Guideline Value for RAILWAY COLONY 4TH STREET

Railway Colony 4th Street guideline value

The current guideline value for Railway Colony 4th Street in Vadaagaram village, under the Kodambakkam SRO, is Rs 7,700 per sq.ft, effective from 1 July 2024. This area is classified as Mixed Type - I.

How the guideline value of Railway Colony 4th Street has changed

The guideline value for Railway Colony 4th Street has seen significant changes over the years. In 2002, the guideline value was Rs 1,459 per sq.ft. This increased to Rs 1,620 per sq.ft in 2003, marking an 11% rise. By 2007, the value rose to Rs 2,000 per sq.ft, a 23% increase. The 2012 revision saw the value jump to Rs 7,000 per sq.ft, reflecting a substantial 250% increase. However, it then decreased to Rs 4,690 per sq.ft in 2017, a decline of 33%. The value increased again to Rs 7,000 per sq.ft in 2023, and finally, it rose to Rs 7,700 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 428%. There are no revisions with figures missing 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, with a median of Rs 6,600 per sq.ft. Railway Colony 4th Street's 2024 guideline value of Rs 7,700 per sq.ft is above this median.

• Railway Colony 3rd Street Extension: Rs 7,700 per sq.ft (2024)
• Railway Colony 3rd Street: 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 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be 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 duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Railway Colony 4th Street?

The Railway Colony 4th Street is covered by 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 during property registration in Vadaagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees. This ensures that the government receives the correct amount of revenue based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Railway Colony 4th Street?

The current guideline value of Railway Colony 4th 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 significantly from Rs 1,459 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 428% over the years.

What is the land classification for Railway Colony 4th Street?

Railway Colony 4th Street is classified as Mixed Type - I according to the land classification guidelines.

Where can I find the registration office for Railway Colony 4th Street?

The registration office for Railway Colony 4th Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Vadaagaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 77,00,000 would incur a stamp duty of Rs 5,39,000 at the rate of 7%.