Guideline Value for Radhakrishnan Street

Radhakrishnan Street guideline value

The current guideline value of Radhakrishnan Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Radhakrishnan Street has changed

The guideline value for Radhakrishnan Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,210 per sq.ft. This increased significantly to Rs 3,750 per sq.ft in 2012, marking a rise of 210%. However, between 2012 and 2017, the value decreased by 33% to Rs 2,512 per sq.ft. The following revision in 2023 saw a substantial increase of 49%, bringing the value to Rs 3,750 per sq.ft, and the most recent revision in 2024 has set the value at Rs 4,100 per sq.ft, which is a 9% increase from the previous year.

There are no figures available for the years 2002 and 2003 for Radhakrishnan Street. Overall, from 2007 to 2024, the guideline value has increased by 239%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value among these streets is Rs 4,900 per sq.ft, which means Radhakrishnan Street's 2024 value is below this median.

• Radial Type Houses: Rs 5,500 per sq.ft (2024)
• Raghavan Colony 1st Street (VP): Rs 6,600 per sq.ft (2024)
• Raghavan Colony 2nd Street (VP): Rs 6,600 per sq.ft (2024)
• Raghavan Colony 3rd Cross Street (VP): Rs 6,600 per sq.ft (2024)
• Raghavan Colony Main Street (VP): Rs 6,600 per sq.ft (2024)
• Raghavan Colony W.M. (Opp. Adikesava perumal Koil): Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Radhakrishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Radhakrishnan Street?

The Sub Registrar Office that covers Radhakrishnan Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kodambakkam

The guideline value is a crucial factor in property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value for registration purposes. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Buyers and sellers must be aware that the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of real estate in the area.

Frequently asked questions

What is the current guideline value of Radhakrishnan Street?

The current guideline value of Radhakrishnan Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking an overall increase of 239% over this period.

What is the land classification for Radhakrishnan Street?

Radhakrishnan Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Radhakrishnan Street?

The Sub Registrar Office for Radhakrishnan Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, and the registration fee is 2% of the guideline value.