Guideline Value for Radhamohan Street

Radhamohan Street guideline value

The current guideline value of Radhamohan Street in Velachery village, under the Velacheri SRO, is Rs 6,600 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Radhamohan Street has changed

The guideline value for Radhamohan Street has seen significant changes over the years. In the 2002 revision, the guideline value was Rs 365 per sq.ft. This increased to Rs 416 per sq.ft in 2003, marking a rise of 14%. The next revision in 2012 saw a substantial increase to Rs 6,000 per sq.ft, which is a remarkable jump of 1342% from the 2003 figure. The most recent revision in 2024 set the guideline value at Rs 6,600 per sq.ft, reflecting a 10% increase from the 2012 figure.

There are no figures available for the revisions in 2007, 2017, and 2023 for Radhamohan Street. Overall, from 2002 to 2024, the guideline value has increased by 1708%.

Guideline values in Velachery

In Velachery, there are 2691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Radhamohan Street's 2024 value above this median.

• Radha Nagar: Rs 3,850 per sq.ft (2024)
• Radha Nagar Extn: Rs 3,850 per sq.ft (2024)
• Radha Nagar Extn 1st Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar Extn 2nd Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar Extn 3rd Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar Extn Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Radhamohan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, these fees would total Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Radhamohan Street?

The Sub Registrar Office that covers Radhamohan Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Velachery. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Radhamohan Street?

The current guideline value of Radhamohan Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 365 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, showing an overall increase of 1708% over this period.

What are the stamp duty and registration fees for property in Radhamohan Street?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office covers Radhamohan Street?

The Velacheri Sub Registrar Office covers Radhamohan Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Radhamohan Street?

Radhamohan Street is classified as Residential Class I Type - I, which is relevant for determining its guideline value and usage.