Guideline Value for Radhakrishnan Street

Radhakrishnan Street guideline value

The current guideline value of Radhakrishnan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Radhakrishnan Street has changed

Over the years, the guideline value of Radhakrishnan Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which then dropped to Rs 2,010 per sq.ft in 2017. However, the 2023 revision increased it back to Rs 3,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 3,300 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%. Then, from 2017 to 2023, it increased significantly by 49%. The change from 2023 to 2024 saw a rise of 10%. Overall, comparing the 2012 and 2024 figures, there has been a 10% increase in the guideline value.

Guideline values in Nesapakkam

Nesapakkam village has a total of 148 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Radhakrishnan Street.

• RAJIV GANDHI NAGAR - Arjunana Street: Rs 3,300 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Arunachalam Street: Rs 3,300 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Ganesan Street: Rs 3,300 per sq.ft (2024)
• RAJIV GANDHI NAGAR - Jawaharlal Nehru Street: Rs 3,300 per sq.ft (2024)
• Ponnammal Nagar - Moogambigai Street: Rs 2,750 per sq.ft (2024)
• Ponnammal Nagar - Moogambigai 2nd Cross Street: Rs 2,750 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 3,300 per sq.ft, the total guideline value comes to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Radhakrishnan Street?

The Sub Registrar Office that covers Radhakrishnan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a key factor when registering property transactions in Nesapakkam. It serves as a benchmark for determining the minimum value at which properties should be registered, ensuring compliance with legal requirements.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs in the transaction process. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Radhakrishnan Street?

The current guideline value of Radhakrishnan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the other streets in Nesapakkam with similar guideline values?

Other streets in Nesapakkam with a guideline value of Rs 3,300 per sq.ft include RAJIV GANDHI NAGAR - Arjunana Street, RAJIV GANDHI NAGAR - Arunachalam Street, RAJIV GANDHI NAGAR - Ganesan Street, and RAJIV GANDHI NAGAR - Jawaharlal Nehru Street.

What is the stamp duty rate for properties in Radhakrishnan Street?

The stamp duty rate for properties in Radhakrishnan Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Radhakrishnan Street?

The Sub Registrar Office for Radhakrishnan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.