Guideline Value for RAILWAY COLONY

Railway Colony guideline value

The current guideline value of Railway Colony in Chengalpattu Natham village is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Special Type - III.

How the guideline value of Railway Colony has changed

The guideline value for Railway Colony has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The 2023 revision saw an increase to Rs 2,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,200 per sq.ft.

Between these revisions, the changes were significant. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The jump from 2023 to 2024 was a further increase of 10%. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value of Railway Colony.

• Rajaji Street No.1: Rs 5,500 per sq.ft (2024)
• Pramanar Street: Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,650 per sq.ft (2024)
• Periyar Street (Periyar Chetty Street): Rs 3,850 per sq.ft (2024)
• Ryder Sabapathi Street: Rs 1,650 per sq.ft (2024)
• Periya Rathinam Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Railway Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Railway Colony?

The Railway Colony area is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial aspect when registering property transactions in Chengalpattu Natham. It serves as the basis for calculating stamp duty and registration fees, which are essential costs associated with property transfer.

When a buyer or seller engages in a transaction, the guideline value ensures that the property is assessed fairly for taxation purposes. This value is particularly important for legal documentation and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Railway Colony?

The current guideline value of Railway Colony is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the median guideline value in Chengalpattu Natham?

The median guideline value in Chengalpattu Natham is Rs 2,200 per sq.ft, which is the same as the guideline value for Railway Colony.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated in Railway Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.