Guideline Value for Railway Colony Main

Railway Colony Main guideline value

The current guideline value of Railway Colony Main is Rs 3,900 per sq.ft, effective from 1 July 2024. This property is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Railway Colony Main has changed

Over the years, the guideline value of Railway Colony Main has seen significant changes. The earliest recorded figure is from 2003, where the guideline value was Rs 470 per sq.ft. This increased to Rs 900 per sq.ft in 2007, marking a substantial rise of 91%. In 2012, the value rose to Rs 3,500 per sq.ft, showing a remarkable increase of 289%. However, it then decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The value further increased to Rs 3,500 per sq.ft in 2023, and finally, the current figure stands at Rs 3,900 per sq.ft in 2024, which is an increase of 11% from the previous year.

The guideline value register does not have a figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 730%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the 2024 figure for Railway Colony Main.

• Railway Colony 5th Street: Rs 3,900 per sq.ft (2024)
• Railway Colony 5th Layout: Rs 3,900 per sq.ft (2024)
• Railway Lane East Side: Rs 3,900 per sq.ft (2024)
• Railway Colony 4th Street: Rs 3,900 per sq.ft (2024)
• Railway colony 4th layout: Rs 3,900 per sq.ft (2024)
• Railway Colony 3rd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Railway Colony Main

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Railway Colony Main?

The Sub Registrar Office that covers Railway Colony Main is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

When buying or selling property in Adambakkam, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is in compliance with the local regulations.

The guideline value is essential for both buyers and sellers as it helps in establishing a fair price for the property. It ensures transparency in property transactions and helps in assessing the financial obligations associated with the purchase or sale of real estate in the area.

Frequently asked questions

What is the current guideline value of Railway Colony Main?

The current guideline value of Railway Colony Main is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 470 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 730% over the years.

What is the land classification for Railway Colony Main?

Railway Colony Main is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where is the Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Railway Colony Main?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fee would amount to Rs 3,51,000.