Guideline Value for Rail 1st Cross Street

Rail 1st Cross Street guideline value

The current guideline value of Rail 1st Cross Street is Rs 1,320 per sq.ft. This street is located in Kadaperi village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Rail 1st Cross Street has changed

The guideline value for Rail 1st Cross Street has seen several revisions over the years. The earliest registered figure is from 2007, which was Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, it decreased to Rs 804 per sq.ft in 2017, a drop of 33%. The value then rose significantly to Rs 1,200 per sq.ft in 2023, followed by another increase to Rs 1,320 per sq.ft in 2024, reflecting a 10% change.

From 2017 to 2023, the value increased by 49%, and overall, from 2007 to 2024, the guideline value has risen by 120%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 7,700 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, positioning Rail 1st Cross Street's 2024 figure below that median.

• Rail 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Rail 3rd Cross Street: Rs 1,320 per sq.ft (2024)
• Rail 4th Cross Street: Rs 1,320 per sq.ft (2024)
• Rail Nagar: Rs 1,320 per sq.ft (2024)
• Raja Gopal Ayyangar Street: Rs 1,320 per sq.ft (2024)
• Rajagopal Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rail 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. Duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rail 1st Cross Street?

The Sub Registrar Office that covers Rail 1st Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Kadaperi

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Kadaperi, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is important to note that the guideline value may differ from the actual sale price of a property. The stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rail 1st Cross Street?

The current guideline value of Rail 1st Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What is the median guideline value in Kadaperi?

The median guideline value in Kadaperi is Rs 1,650 per sq.ft, which is higher than the current guideline value of Rail 1st Cross Street.

What are the registration fees for property transactions?

The registration fee is typically 2% of the guideline value of the property. For example, for a property valued at Rs 13,20,000, the registration fee would be Rs 26,400.

Where can I find more information about the Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office covers Rail 1st Cross Street. For more information, you can visit the official website to find your SRO.