Guideline Value for RAILWAY STATION STREET (WEST SIDE FROM G.S.T.)

Railway Station Street (West Side From G.S.T.) guideline value

The current guideline value of Railway Station Street (West Side From G.S.T.) is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in SingaperumalKoil village, under the Chengleput Joint II SRO, and is classified as Mixed Type - I.

How the guideline value of Railway Station Street (West Side From G.S.T.) has changed

Over the years, the guideline value for Railway Station Street has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 250 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 500%. However, in 2017, the value adjusted to Rs 1,005 per sq.ft, reflecting a decrease of 33%. The subsequent revisions in 2023 and 2024 maintained the value at Rs 1,500 per sq.ft, showing no change between these two years.

Notably, the overall increase from the 2007 revision to the 2024 revision is 500%. The register has no figures for the years 2002 and 2003 for this street, indicating that there were no recorded values during those periods.

Guideline values in SingaperumalKoil

In SingaperumalKoil, there are 33 streets under the Chengleput Joint II SRO that carry a guideline value for 2024, ranging from Rs 800 to Rs 2,000 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, placing Railway Station Street's 2024 figure above this median.

• Rajaji Street: Rs 1,500 per sq.ft (2024)
• Rajammal Street: Rs 1,100 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 800 per sq.ft (2024)
• Pavender Street: Rs 1,100 per sq.ft (2024)
• Sandai Mettu Street: Rs 1,500 per sq.ft (2024)
• Sannadhi Street: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Railway Station Street (West Side From G.S.T.)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total cost for these fees to Rs 1,35,000. 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 Railway Station Street (West Side From G.S.T.)?

The Railway Station Street (West Side From G.S.T.) falls under the jurisdiction of 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 SingaperumalKoil

The guideline value plays a crucial role in property transactions in SingaperumalKoil, as it serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for completing the transaction legally. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Railway Station Street (West Side From G.S.T.)?

The current guideline value of Railway Station Street (West Side From G.S.T.) is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017. It remained at Rs 1,500 per sq.ft in both 2023 and 2024.

What is the land classification for Railway Station Street?

Railway Station Street is classified as Mixed Type - I, indicating that it may accommodate various types of land use.

Where can I find the Chengleput Joint II Sub Registrar Office?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 15,00,000, the total fees would amount to Rs 1,35,000.