Guideline Value for Railway Border Colony

Railway Border Colony guideline value

The current guideline value of Railway Border Colony is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Palavanthangal village, under the Alandur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Railway Border Colony has changed

The guideline value for Railway Border Colony has seen significant changes over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a substantial rise of 167%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, and most recently, it has increased to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 193%. The revisions for the years 2002 and 2003 do not have figures listed for this street in the register.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Railway Border Colony is above this median.

• Railway partar Road: Rs 4,400 per sq.ft (2024)
• Puliyanthoppu: Rs 2,800 per sq.ft (2024)
• Poonthottam Colony Street: Rs 3,900 per sq.ft (2024)
• Rangabhashyam Pillai Street: Rs 4,400 per sq.ft (2024)
• Pazhvanthangal Main Road(Gandhi Road): Rs 3,900 per sq.ft (2024)
• Panar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Railway Border Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to 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 more details.

Which Sub Registrar Office covers Railway Border Colony?

The Railway Border Colony is covered by 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 Palavanthangal

The guideline value is a crucial factor when registering property transactions in Palavanthangal. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue in the form of stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. It is essential for buyers to be aware of this value to ensure they are making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value for Railway Border Colony?

The current guideline value for Railway Border Colony is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,500 per sq.ft to Rs 4,400 per sq.ft in 2024, representing a total increase of 193% over the years.

What is the land classification for Railway Border Colony?

Railway Border Colony is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

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

For a property valued at Rs 44,00,000, the stamp duty is Rs 3,08,000, and the registration fee is Rs 88,000, totaling Rs 3,96,000.

Where is the Alandur Sub Registrar Office located?

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