Guideline Value for RAILWAY STATION ROAD

Railway Station Road guideline value

The current guideline value of Railway Station Road in Thiruvottiyur village, under the Thiruvottiyur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - III.

How the guideline value of Railway Station Road has changed

The guideline value for Railway Station Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 333 per sq.ft. This increased to Rs 390 per sq.ft in 2003, followed by a rise to Rs 600 per sq.ft in 2007. The 2012 revision recorded a value of Rs 2,600 per sq.ft, which was a decrease from the previous revision. The guideline value then increased to Rs 1,742 per sq.ft in 2017, and further to Rs 2,600 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft.

The changes between these revisions reflect a significant increase over the years. Notably, the value rose by 8% from 2023 to 2024, and by 49% from 2017 to 2023. The largest increase was from 2007 to 2012, which saw a remarkable rise of 333%.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value for the area is Rs 3,300 per sq.ft, making the current guideline value of Railway Station Road below this median.

• Radiance Prosper: Rs 7,463 per sq.ft (2024)
• Radhakrishnan Nagar: Rs 3,300 per sq.ft (2024)
• Radhakrishnan Avenue: Rs 1,300 per sq.ft (2024)
• Raja Shanmugam Nagar/ Extension/Cross Streets: Rs 1,500 per sq.ft (2024)
• Pudhiya Kinaru Street: Rs 3,300 per sq.ft (2024)
• Rajeswari Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Railway Station Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, resulting in a total of Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Railway Station Road?

The Railway Station Road is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Thiruvottiyur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property transaction occurs, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Railway Station Road?

The current guideline value of Railway Station Road is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 333 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting a significant overall increase of 741% over this period.

What are the stamp duty and registration fees for property in Railway Station Road?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers Railway Station Road?

The Thiruvottiyur Sub Registrar Office covers Railway Station Road, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Railway Station Road?

Railway Station Road is classified as Residential Special Type - III, indicating its designated use for residential purposes.