Guideline Value for RAILWAY LINE STREET

Railway Line Street guideline value

The current guideline value of Railway Line Street in Vilingiyambakkam village, under the Avadi SRO, is Rs 1,310 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Railway Line Street has changed

The guideline value for Railway Line Street has undergone several revisions since 2003. In 2003, the value was Rs 330 per sq.ft, which increased to Rs 650 per sq.ft in 2007. The value then rose significantly to Rs 1,200 per sq.ft in 2012, before decreasing to Rs 804 per sq.ft in 2017. Following this, the value saw a substantial increase to Rs 1,200 per sq.ft in 2023, and it has now reached Rs 1,310 per sq.ft in the 2024 revision. The register has no figure for this street in 2002.

From 2017 to 2023, the value increased by 49%, while the jump from 2023 to 2024 was 9%. Notably, the overall change from 2003 to 2024 reflects a significant increase of 297%. The fluctuations in value over the years illustrate the changing landscape of Railway Line Street.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 4,400 per sq.ft. The median value for these streets is Rs 935 per sq.ft, placing Railway Line Street above this median.

• Railway Line Southern Side Streets: Rs 1,310 per sq.ft (2024)
• Raja Durai St: Rs 810 per sq.ft (2024)
• Ragaval Nagar: Rs 935 per sq.ft (2024)
• Rajaji Street: Rs 935 per sq.ft (2024)
• Rajaji St (West): Rs 800 per sq.ft (2024)
• Rajamanna St: Rs 935 per sq.ft (2024)

Stamp duty and registration fee for property in Railway Line Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,310 per sq.ft, the total guideline value amounts to Rs 13,10,000. The stamp duty at 7% would be Rs 91,700, and the registration fee at 2% would be Rs 26,200, bringing the total fees together to Rs 1,17,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information on calculating these fees.

Which Sub Registrar Office covers Railway Line Street?

The Railway Line Street falls under the jurisdiction of the Avadi Sub Registrar Office. The office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process of property transactions in Vilingiyambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the overall transaction costs. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Railway Line Street?

The current guideline value of Railway Line Street is Rs 1,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 330 per sq.ft in 2003 to Rs 1,310 per sq.ft in 2024, reflecting an overall increase of 297% over the years.

What is the land classification of Railway Line Street?

Railway Line Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Railway Line Street?

The Sub Registrar Office for Railway Line Street is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for properties in Railway Line Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a plot of 1,000 sq.ft at the current rate would incur a total fee of Rs 1,17,900, including stamp duty and registration fees.