Guideline Value for Rail Nagar

Rail Nagar guideline value

The current guideline value of Rail Nagar, located in Kadaperi village under the Tambaram Joint 1 SRO, is Rs 1,320 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class I Type - III.

How the guideline value of Rail Nagar has changed

Over the years, the guideline value of Rail Nagar has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which then increased by 100% to Rs 1,200 per sq.ft in 2012. However, there was a decrease of 33% to Rs 804 per sq.ft in the 2017 revision. Following this, the value rose significantly by 49% to Rs 1,200 per sq.ft in the 2023 revision, and then increased by 10% to the current rate of Rs 1,320 per sq.ft in the 2024 revision. The register has no figure for this street for the years 2002 and 2003.

In summary, from the 2007 revision to the 2024 revision, the overall increase in the guideline value is 120%. The changes between the revisions highlight fluctuations in value, with the most significant increase occurring from 2017 to 2023.

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 for these streets is Rs 1,650 per sq.ft, placing Rail Nagar's 2024 figure below this median.

• Rail 4th Cross Street: Rs 1,320 per sq.ft (2024)
• Rail 3rd Cross Street: Rs 1,320 per sq.ft (2024)
• Rail 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Rail 1st Cross Street: 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 Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. Please note that the 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 further calculations.

Which Sub Registrar Office covers Rail Nagar?

The Sub Registrar Office that covers Rail Nagar 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 the registration process when buying or selling property in Kadaperi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rail Nagar?

The current guideline value of Rail Nagar 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, marking an overall increase of 120% over the years.

What are the stamp duty rates for property in Rail Nagar?

The stamp duty for property in Rail Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Rail Nagar located?

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

How is the guideline value determined for properties in Kadaperi?

The guideline value is determined based on various revisions recorded in the register, reflecting the current market conditions and land classification in the area.