Guideline Value for NORTH RAILWAY STATION ROAD

North Railway Station Road guideline value

The current guideline value of North Railway Station Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of North Railway Station Road has changed

The guideline value for North Railway Station Road has seen several revisions over the years. In 2002, the value was Rs 187 per sq.ft, which increased to Rs 221 per sq.ft in 2003, marking an increase of 18%. The value continued to rise significantly, reaching Rs 600 per sq.ft in 2007, a remarkable increase of 171%. By 2012, the guideline value was Rs 3,000 per sq.ft, reflecting a substantial increase of 400% from the previous revision.

In 2017, the value was revised to Rs 2,010 per sq.ft, which was a decrease of 33%. The guideline value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current value of Rs 3,300 per sq.ft in 2024, an increase of 10%. Overall, from 2002 to 2024, the guideline value has increased by 1665%.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a guideline value for 2024, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current guideline value of North Railway Station Road.

• North Mada Street: Rs 3,700 per sq.ft (2024)
• Ondikuppam: Rs 2,150 per sq.ft (2024)
• Othavadai Street: Rs 3,300 per sq.ft (2024)
• Nethaji Nagar /Streets: Rs 3,300 per sq.ft (2024)
• Palagai Thotti Kuppam: Rs 2,150 per sq.ft (2024)
• Nellikkaran Street: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. 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 North Railway Station Road?

The Sub Registrar Office that covers North Railway Station Road is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

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

The current guideline value of North Railway Station Road 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 increased from Rs 187 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1665% over this period.

What is the land classification of North Railway Station Road?

North Railway Station Road is classified as Residential Special Type - I.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Thiruvottiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.