Guideline Value for Railway Colony 4th Street

Railway Colony 4th Street guideline value

The current guideline value of Railway Colony 4th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Railway Colony 4th Street has changed

The guideline value for Railway Colony 4th Street has seen several revisions over the years. Starting from Rs 412 per sq.ft in 2002, it increased to Rs 470 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 900 per sq.ft in 2007, reflecting a 91% increase. In 2012, the value was Rs 3,500 per sq.ft, which was a decrease of 33% from the previous revision.

From 2017, the guideline value was Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in 2023, showing a 49% rise. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, marking an 11% increase from 2023. The overall change from 2002 to 2024 is an increase of 847%.

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 guideline value of Railway Colony 4th Street.

• Railway colony 4th layout: Rs 3,900 per sq.ft (2024)
• Railway Colony 5th Layout: Rs 3,900 per sq.ft (2024)
• Railway Colony 5th Street: Rs 3,900 per sq.ft (2024)
• Railway Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• Railway Colony Main: Rs 3,900 per sq.ft (2024)
• Railway Colony 2nd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Railway Colony 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that 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 details.

Which Sub Registrar Office covers Railway Colony 4th Street?

The Sub Registrar Office that covers Railway Colony 4th Street 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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded.

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 Railway Colony 4th Street?

The current guideline value of Railway Colony 4th Street 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 from Rs 412 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 847% over the years.

What is the stamp duty rate for properties in Railway Colony 4th Street?

The stamp duty rate for properties in Railway Colony 4th Street is 7% of the guideline value or the sale price, whichever is higher.

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.

How is the guideline value determined for properties in Adambakkam?

The guideline value for properties in Adambakkam is determined based on various factors, including land classification and historical revisions of property values in the area.