Guideline Value for NORTH RAILWAY STATION ROAD CHENNAI - 76

North Railway Station Road Chennai - 76 guideline value

The current guideline value of North Railway Station Road Chennai - 76 is Rs 3,800 per sq.ft, effective from 1 July 2024. This property is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of North Railway Station Road Chennai - 76 has changed

The guideline value for North Railway Station Road has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 250 per sq.ft. This value increased significantly to Rs 3,500 per sq.ft in 2012, marking a change of +1300%. However, it then decreased to Rs 2,345 per sq.ft in 2017, a decline of -33%. The value rose again to Rs 3,500 per sq.ft in 2023, and most recently, it has increased to Rs 3,800 per sq.ft in 2024, reflecting a change of +9%. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by +1420%. The changes between the revisions highlight the fluctuations in the property values over the years, with the most significant increase occurring from 2007 to 2012.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value for North Railway Station Road Chennai - 76 is above this median, indicating a higher valuation compared to many other streets in the area.

• North Pillayar Koil 3rd Cross Street: Rs 2,100 per sq.ft (2024)
• Officers Avenue: Rs 2,900 per sq.ft (2024)
• Old Post Office Road (New Colony): Rs 2,100 per sq.ft (2024)
• Olympic Nagar: Rs 1,600 per sq.ft (2024)
• Om Sakthi Nagar: Rs 1,600 per sq.ft (2024)
• Om Sakthi Nagar (Near Pdr Nagar): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in North Railway Station Road Chennai - 76

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers North Railway Station Road Chennai - 76?

The Sub Registrar Office that covers North Railway Station Road Chennai - 76 is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration of property transactions in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction process.

When purchasing property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transfer of property ownership, based on the established guideline value.

Frequently asked questions

What is the current guideline value of North Railway Station Road Chennai - 76?

The current guideline value of North Railway Station Road Chennai - 76 is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, showing an overall increase of +1420% during this period.

What is the land classification for North Railway Station Road Chennai - 76?

The land classification for North Railway Station Road Chennai - 76 is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for North Railway Station Road Chennai - 76 is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more details by visiting the relevant link.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 38,00,000, the stamp duty at 7% would be Rs 2,66,000.