Guideline Value for RAILWAY COLONY 1ST STREET

Railway Colony 1st Street guideline value

The current guideline value of Railway Colony 1st Street in Vadaagaram village, under the Kodambakkam SRO, is Rs 7,700 per sq.ft, effective from 1 July 2024. This street falls under the Mixed Type - I land classification.

How the guideline value of Railway Colony 1st Street has changed

The guideline value for Railway Colony 1st Street has seen several revisions over the years. In 2002, the value was Rs 842 per sq.ft, which increased to Rs 1,620 per sq.ft in 2003, marking a change of +92%. By 2007, the value rose to Rs 2,000 per sq.ft, an increase of +23%. The 2012 revision saw the value rise to Rs 7,000 per sq.ft, reflecting a significant change of +250% from the previous revision. However, in 2017, the value dropped to Rs 4,690 per sq.ft, a decrease of -33%. The 2023 revision brought the value back up to Rs 7,000 per sq.ft, and the latest revision in 2024 set it at Rs 7,700 per sq.ft, which is a +10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +814%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Railway Colony 1st Street's value above this median.

• Railway Colony 2nd Street: Rs 7,700 per sq.ft (2024)
• Railway Colony 2nd Street Extension: Rs 7,700 per sq.ft (2024)
• Railway Colony 3rd Street: Rs 7,700 per sq.ft (2024)
• Railway Colony 3rd Street Extension: Rs 7,700 per sq.ft (2024)
• Railway Colony 4th Street: Rs 7,700 per sq.ft (2024)
• Rajaram Metha Nagar - Amman Koil Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Railway Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. 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 Railway Colony 1st Street?

The Sub Registrar Office that covers Railway Colony 1st Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vadaagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the fees reflect the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Railway Colony 1st Street?

The current guideline value of Railway Colony 1st Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 842 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, showing an overall increase of +814% over the years.

What is the land classification for Railway Colony 1st Street?

Railway Colony 1st Street is classified under Mixed Type - I land classification.

What are the stamp duty and registration fees for a property in Railway Colony 1st Street?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Where is the Sub Registrar Office for Railway Colony 1st Street located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.