Guideline Value for RAILWAY COLONY 3RD STREET

Railway Colony 3rd Street guideline value

The current guideline value of Railway Colony 3rd Street is Rs 7,700 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Vadaagaram village, under the Kodambakkam SRO, and is classified as Mixed Type - I land.

How the guideline value of Railway Colony 3rd Street has changed

The guideline value for Railway Colony 3rd Street has seen several revisions over the years. In 2002, the value was Rs 921 per sq.ft, which increased to Rs 1,620 per sq.ft in 2003, marking a 76% rise. By 2007, the value further increased to Rs 2,000 per sq.ft, an increase of 23%. The value then jumped significantly to Rs 7,000 per sq.ft in 2012, reflecting a 250% increase. However, it decreased to Rs 4,690 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 7,000 per sq.ft in 2023, and finally reached Rs 7,700 per sq.ft in 2024, showing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 736%. There are no figures available for the revisions in 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 2024 guideline value, 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 3rd Street's 2024 value above this median.

• Railway Colony 3rd Street Extension: Rs 7,700 per sq.ft (2024)
• Railway Colony 2nd Street Extension: Rs 7,700 per sq.ft (2024)
• Railway Colony 2nd Street: Rs 7,700 per sq.ft (2024)
• Railway Colony 4th Street: Rs 7,700 per sq.ft (2024)
• Railway Colony 1st 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 3rd 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, making the total fees Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Railway Colony 3rd Street?

The Sub Registrar Office that covers Railway Colony 3rd 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 of property transactions in Vadaagaram. It determines the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value as per the government standards.

When buying or selling property, the guideline value will affect the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Railway Colony 3rd Street?

The current guideline value of Railway Colony 3rd Street is Rs 7,700 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 921 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 736% over the years.

What is the median guideline value for streets in Vadaagaram?

The median guideline value for streets in Vadaagaram is Rs 6,600 per sq.ft, with Railway Colony 3rd Street's value being above this median.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Railway Colony 3rd Street located?

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