Guideline Value for Rail 2nd Cross Street

Rail 2nd Cross Street guideline value

The current guideline value of Rail 2nd Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kadaperi village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Rail 2nd Cross Street has changed

The guideline value for Rail 2nd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, by 2017, the value decreased to Rs 804 per sq.ft, reflecting a drop of 33%. The 2023 revision saw a significant increase to Rs 1,200 per sq.ft, followed by another increase to the current value of Rs 1,320 per sq.ft in 2024, which is a 10% rise.

Overall, from 2007 to 2024, the guideline value has increased 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, with a median value of Rs 1,650 per sq.ft. Rail 2nd Cross Street's 2024 value of Rs 1,320 per sq.ft is below this median.

• Rail 1st 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 2nd 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, resulting in a total of Rs 1,18,800. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rail 2nd Cross Street?

The Sub Registrar Office that covers Rail 2nd 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 crucial when registering property transactions in Kadaperi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value set by the authorities. This value is essential for both buyers and sellers to understand their financial obligations during the property transfer.

Frequently asked questions

What is the current guideline value of Rail 2nd Cross Street?

The current guideline value of Rail 2nd 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, representing an overall increase of 120% over the years.

What is the land classification of Rail 2nd Cross Street?

Rail 2nd Cross Street is classified as Residential Class I Type - III according to the guideline value register.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price.

Where is the Sub Registrar Office for Rail 2nd Cross Street located?

The Sub Registrar Office for Rail 2nd Cross Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.