Guideline Value for RAIL NAGAR

Rail Nagar guideline value

The current guideline value of Rail Nagar, located in Palur-A village under the Chengleput Joint II SRO, is Rs 600 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Rail Nagar has changed

The guideline value for Rail Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 402 per sq.ft, which remained unchanged in the 2023 revision, still at Rs 600 per sq.ft. The most recent 2024 revision also maintains the value at Rs 600 per sq.ft, indicating no change from the previous year. The register has no figures for this street for the years 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, the increase remains at 49%, as the value has not changed since 2023.

Guideline values in Palur-A

In Palur-A village, there are 44 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 600 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Rail Nagar's 2024 figure above that median.

• Rail Garden: Rs 600 per sq.ft (2024)
• Raju Royal Garden: Rs 400 per sq.ft (2024)
• Raju Royal Garden Extn: Rs 600 per sq.ft (2024)
• Saba Garden: Rs 400 per sq.ft (2024)
• Sai Linga Nagar: Rs 400 per sq.ft (2024)
• Samuthuva Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Rail Nagar

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rail Nagar?

The Sub Registrar Office covering Rail Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Palur-A

The guideline value is a crucial factor in the registration process when buying or selling property in Palur-A. It determines the stamp duty and registration fees that need to be paid, ensuring that the transaction is legally recorded and compliant with local regulations.

Frequently asked questions

What is the current guideline value of Rail Nagar?

The current guideline value of Rail Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Rail Nagar has remained at Rs 600 per sq.ft from 2023 to 2024, with a significant increase of 49% from Rs 402 per sq.ft in 2017.

What is the land classification for Rail Nagar?

Rail Nagar is classified under Mixed Special Type - I, which indicates the type of development and usage permitted in the area.

Where can I find the Sub Registrar Office for Rail Nagar?

The Sub Registrar Office for Rail Nagar is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengleput Joint II registration zone.

How is the stamp duty calculated for property in Rail Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,00,000, the stamp duty at 7% would be Rs 42,000.