Guideline Value for RAILWAY BORDER 2 STREET

Railway Border 2 Street guideline value

The current guideline value for Railway Border 2 Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village under the Thiyagaraya nagar SRO, classified as Residential Class II Type - I.

How the guideline value of Railway Border 2 Street has changed

The guideline value for Railway Border 2 Street has seen several revisions over the years. In 2003, the value was Rs 725 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. This was a significant rise of 38%. The value then surged by 500% to reach Rs 6,000 per sq.ft in 2012. However, it dropped by 33% to Rs 4,020 per sq.ft in 2017. The value then climbed to Rs 6,000 per sq.ft in 2023, before reaching the current figure of Rs 6,600 per sq.ft in 2024, marking a 10% increase.

It is important to note that the register has no figure for Railway Border 2 Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 810%.

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 value is Rs 6,600 per sq.ft, which is the same as the current guideline value for Railway Border 2 Street.

• Railway Border 1 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 2 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, while the registration fee at 2% would be Rs 1,32,000. Together, the total fees would be Rs 5,94,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Railway Border 2 Street?

The Sub Registrar Office that covers Railway Border 2 Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value is considered alongside the actual sale price. If the sale price exceeds the guideline value, the stamp duty and registration fees will be calculated based on the sale price, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value for Railway Border 2 Street?

The current guideline value for Railway Border 2 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, from Rs 725 per sq.ft in 2003 to Rs 6,600 per sq.ft in 2024, an increase of 810% overall.

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

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles property registrations for Railway Border 2 Street?

The Thiyagaraya nagar Sub Registrar Office handles property registrations for Railway Border 2 Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the land classification for Railway Border 2 Street?

Railway Border 2 Street is classified as Residential Class II Type - I, indicating its suitability for residential development.