Guideline Value for RAILWAY COLONY 2ND STREET EXTENSION

Railway Colony 2nd Street Extension guideline value

The current guideline value of Railway Colony 2nd Street Extension is Rs 7,700 per sq.ft, effective from 1 July 2024. This area is located in Vadaagaram village under the Kodambakkam SRO, and the land classification is Mixed Type - I.

How the guideline value of Railway Colony 2nd Street Extension has changed

The guideline value for Railway Colony 2nd Street Extension has seen several revisions over the years. The earliest recorded value was Rs 2,000 per sq.ft in 2007, which increased significantly to Rs 7,000 per sq.ft in 2012. However, it then decreased to Rs 4,690 per sq.ft in 2017. The value rose again to Rs 7,000 per sq.ft in 2023, and currently stands at Rs 7,700 per sq.ft as per the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 285%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street in the register.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 6,600 per sq.ft, placing Railway Colony 2nd Street Extension's 2024 figure above that median.

• Railway Colony 2nd Street: Rs 7,700 per sq.ft (2024)
• Railway Colony 3rd Street: Rs 7,700 per sq.ft (2024)
• Railway Colony 1st 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 2nd Street Extension

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 cost 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 2nd Street Extension?

The Railway Colony 2nd Street Extension falls under the jurisdiction of 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 plays a crucial role in the registration process of property transactions in Vadaagaram. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When selling property, the guideline value can influence the sale price, as it reflects the official valuation set by the Registration Department. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Railway Colony 2nd Street Extension?

The current guideline value of Railway Colony 2nd Street Extension 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 significantly from Rs 2,000 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 285% over the years.

What is the median guideline value in Vadaagaram?

The median guideline value in Vadaagaram is Rs 6,600 per sq.ft, with Railway Colony 2nd Street Extension's value above this median.

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

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 Kodambakkam Sub Registrar Office located?

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