Guideline Value for RAILWAY BORDER 1 STREET

Railway Border 1 Street guideline value

The current guideline value for Railway Border 1 Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Railway Border 1 Street has changed

The guideline value for Railway Border 1 Street has seen significant changes over the years. In 2002, the value was Rs 511 per sq.ft, which increased to Rs 567 per sq.ft in 2003, marking an increase of 11%. The value then rose by 76% to Rs 1,000 per sq.ft in 2007. Following this, there was a substantial increase of 500%, bringing the value to Rs 6,000 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33%, resulting in a value of Rs 4,020 per sq.ft. The value then increased by 49% to Rs 6,000 per sq.ft in 2023, before reaching the current guideline value of Rs 6,600 per sq.ft in 2024, which represents a 10% increase.

There are no figures available for the revisions in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by 1192%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is equal to the current figure for Railway Border 1 Street.

• Railway Border 2 Street: Rs 6,600 per sq.ft (2024)
• Rajagopalan Street: Rs 6,600 per sq.ft (2024)
• Rajaji Street(C.I.T.Nagar): Rs 7,700 per sq.ft (2024)
• Rajaji Street Western Side Of Reddy Kuppam Road Contd: Rs 6,600 per sq.ft (2024)
• Pushpavathi Ammal Street: Rs 8,800 per sq.ft (2024)
• Ramaiah Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Railway Border 1 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Railway Border 1 Street?

The Sub Registrar Office that covers Railway Border 1 Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mambalam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Railway Border 1 Street?

The current guideline value for Railway Border 1 Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 511 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, representing an overall increase of 1192%.

What is the land classification for Railway Border 1 Street?

The land classification for Railway Border 1 Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Railway Border 1 Street?

The Thiyagaraya nagar Sub Registrar Office covers Railway Border 1 Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Mambalam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 66,00,000 would incur a stamp duty of Rs 4,62,000 at 7%.