Guideline Value for East Railway Gate

East Railway Gate guideline value

The current guideline value of East Railway Gate, located in Kolathur village under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of East Railway Gate has changed

The guideline value for East Railway Gate has undergone several revisions over the years. In 2007, the guideline value was set at Rs 1,000 per sq.ft. This figure saw a significant increase in 2012, where it rose to Rs 2,500 per sq.ft, marking a 150% change. The value remained unchanged at Rs 2,500 per sq.ft until the 2023 revision.

In 2023, the guideline value was revised to Rs 2,500 per sq.ft, which was maintained until the latest revision in 2024, where it increased by 8% to Rs 2,700 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 170%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing East Railway Gate's 2024 figure below this median.

• East Railway Gate Cross Lane: Rs 2,200 per sq.ft (2024)
• East Street: Rs 2,700 per sq.ft (2024)
• East Street Lane: Rs 2,200 per sq.ft (2024)
• Durga Nagar: Rs 3,300 per sq.ft (2024)
• Durga Colony Extension: Rs 3,300 per sq.ft (2024)
• Durga Colony: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in East Railway Gate

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, leading to a total of Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers East Railway Gate?

The East Railway Gate area falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolathur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is either the basis for calculating the applicable fees or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of East Railway Gate?

The current guideline value of East Railway Gate is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 170%.

What is the land classification for East Railway Gate?

East Railway Gate is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.