Guideline Value for RAILWAY BORDER ROAD

Railway Border Road guideline value

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

How the guideline value of Railway Border Road has changed

The guideline value for Railway Border Road has experienced several revisions over the years. In 2003, the value was Rs 2,157 per sq.ft, which increased to Rs 3,000 per sq.ft in 2007, marking a 39% rise. The value then saw a 100% increase to Rs 6,000 per sq.ft in 2012, but dropped by 33% to Rs 4,020 per sq.ft in 2017. The 2023 revision set the value at Rs 6,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 6,600 per sq.ft, a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 206%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft as per the 2024 revision. The median value for these streets is Rs 11,000 per sq.ft, placing Railway Border Road's 2024 value below this median.

• Rajabathar Street: Rs 11,000 per sq.ft (2024)
• Rajachar Street: Rs 13,200 per sq.ft (2024)
• Ragahviah Road: Rs 14,300 per sq.ft (2024)
• Radhakrishna Road/ Radhakrishna Street: Rs 8,300 per sq.ft (2024)
• Rajamannar Street: Rs 13,200 per sq.ft (2024)
• Rajambal Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Railway Border Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty, charged at 7%, would be Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Railway Border Road?

The Railway Border Road falls under the jurisdiction of 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 Tnagar

The guideline value is a crucial factor in property transactions in Tnagar, as it determines the basis for calculating stamp duty and registration fees. When a property is bought or sold, the guideline value is used to assess the applicable charges, ensuring that the transaction is recorded accurately.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Understanding these values helps in making informed decisions during property dealings in the area.

Frequently asked questions

What is the current guideline value of Railway Border Road?

The current guideline value of Railway Border Road 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 from Rs 2,157 per sq.ft in 2003 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the land classification for Railway Border Road?

Railway Border Road is classified as Residential Class III Type - I, which indicates its use for residential purposes.

What are the stamp duty and registration fees for properties in Railway Border Road?

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 Sub Registrar Office is responsible for Railway Border Road?

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