Guideline Value for Railway Lane East Side

Railway Lane East Side guideline value

The current guideline value of Railway Lane East Side 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 Lane East Side has changed

Since the 2002 revision, the guideline value for Railway Lane East Side has seen significant changes. In 2002, the value was Rs 222 per sq.ft, which increased to Rs 253 per sq.ft in 2003. The value continued to rise, reaching Rs 900 per sq.ft in 2007, followed by a substantial jump to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value increased again to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,900 per sq.ft in 2024.

The changes between the revisions show a +14% increase from 2002 to 2003, a +256% increase from 2003 to 2007, a +289% increase from 2007 to 2012, a -33% decrease from 2012 to 2017, a +49% increase from 2017 to 2023, and an +11% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1657%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO carrying a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft, with the median being Rs 3,900 per sq.ft. The guideline value for Railway Lane East Side matches this median.

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

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 be 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 calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Railway Lane East Side?

The Sub Registrar Office that covers Railway Lane East Side 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 plays a crucial role in property transactions in Adambakkam. It is used to determine the stamp duty and registration fees payable when buying or selling property. Buyers must ensure that the sale price of the property is either at or above the guideline value to avoid any discrepancies during registration.

When registering a property, the guideline value is checked against the sale price, and the higher value is used for calculating the applicable fees. This ensures that all transactions are transparent and comply with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Railway Lane East Side?

The current guideline value of Railway Lane East Side 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 222 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +1657% over this period.

What is the land classification for Railway Lane East Side?

Railway Lane East Side is classified as Residential Class I Type - III, indicating its suitability for residential development.

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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 39,00,000, the total fees would amount to Rs 3,51,000.