Guideline Value for North Railway Terminal salai (Harbour Area)

North Railway Terminal salai (Harbour Area) guideline value

The current guideline value of North Railway Terminal salai (Harbour Area) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of North Railway Terminal salai (Harbour Area) has changed

In the 2017 revision, the guideline value was set at Rs 804 per sq.ft. The latest revision in 2024 has increased this value to Rs 1,300 per sq.ft, marking a significant increase of 62% over the seven-year period.

It is important to note that there are no figures available for the years 2002, 2003, 2007, 2012, and 2023 for this street, indicating that the guideline value remained unchanged during those revisions.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for the village is Rs 1,600 per sq.ft, which means the 2024 figure for North Railway Terminal salai (Harbour Area) is below this median.

• North Railway Eriyuttu street: Rs 1,300 per sq.ft (2024)
• North Terminus Road: Rs 1,600 per sq.ft (2024)
• North Mada Street Extension: Rs 3,800 per sq.ft (2024)
• North Mada Street: Rs 3,800 per sq.ft (2024)
• North MadaKoil Street: Rs 3,800 per sq.ft (2024)
• New Vinoba Nagar 3rd street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in North Railway Terminal salai (Harbour Area)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these fees Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers North Railway Terminal salai (Harbour Area)?

The North Railway Terminal salai (Harbour Area) is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Tondaiarpet. It serves as the basis for calculating the stamp duty and registration fees that are required when a property is bought or sold.

When buyers and sellers engage in a transaction, the guideline value ensures that the property is assessed fairly for taxation purposes. This value is used by the registration department to determine the applicable fees and ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of North Railway Terminal salai (Harbour Area)?

The current guideline value of North Railway Terminal salai (Harbour Area) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, representing a 62% rise. There are no figures available for the years 2002, 2003, 2007, 2012, and 2023 for this street.

What is the median guideline value in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft. The guideline value for North Railway Terminal salai (Harbour Area) is below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,300 per sq.ft, the stamp duty is 7% and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,17,000.

Which office handles registrations for North Railway Terminal salai (Harbour Area)?

The Royapuram Sub Registrar Office handles registrations for North Railway Terminal salai (Harbour Area). It is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.