Guideline Value for Railway Colony 5th Street

Railway Colony 5th Street guideline value

The current guideline value of Railway Colony 5th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street 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 5th Street has changed

The guideline value for Railway Colony 5th Street has undergone several revisions over the years. In 2002, the value was Rs 412 per sq.ft, which increased to Rs 470 per sq.ft in 2003, marking a change of +14%. By 2007, the value rose significantly to Rs 900 per sq.ft, reflecting an increase of +91%. The 2012 revision saw the value remain at Rs 3,500 per sq.ft, but then it dropped to Rs 2,345 per sq.ft in 2017, resulting in a decrease of -33%.

From 2017 to 2023, the guideline value saw a substantial increase to Rs 3,500 per sq.ft, which was a rise of +49%. Finally, the latest revision in 2024 set the value at Rs 3,900 per sq.ft, reflecting an increase of +11% from the previous year. The register has no figure for this street for the years not mentioned.

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 current value of Railway Colony 5th Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total 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. 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 5th Street?

The Sub Registrar Office that covers Railway Colony 5th 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 further assistance.

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 serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the fees are based on an official valuation rather than the sale price alone. This process helps maintain transparency and consistency within the real estate market.

Frequently asked questions

What is the current guideline value of Railway Colony 5th Street?

The current guideline value of Railway Colony 5th 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 seen several revisions, starting from Rs 412 per sq.ft in 2002 to the current rate of Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +847% since 2002.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations in Railway Colony 5th Street?

The Alandur Sub Registrar Office is responsible for handling property registrations in Railway Colony 5th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the applicable stamp duty and registration fees during property transactions, ensuring that these fees are based on an official valuation.