Guideline Value for Railway Quarters

Railway Quarters guideline value

The current guideline value of Railway Quarters in Thiruvallur village is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Railway Quarters has changed

The guideline value for Railway Quarters has undergone several revisions over the years. In 2003, the value was Rs 153 per sq.ft, which increased to Rs 200 per sq.ft in 2007. The value saw a significant rise of 400% to reach Rs 1,000 per sq.ft in 2012. However, it then decreased by 33% to Rs 670 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the most recent revision in 2024 set it at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 619%. The register has no figure for this street in 2002.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO carrying a 2024 guideline value, ranging from Rs 550 to Rs 3,850 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, which is equal to the current figure for Railway Quarters.

• Rajaji Sali: Rs 3,850 per sq.ft (2024)
• Pungathur Colony: Rs 1,100 per sq.ft (2024)
• Pungathur: Rs 1,650 per sq.ft (2024)
• Pumphouse Road: Rs 1,100 per sq.ft (2024)
• Pukalenthi Street: Rs 1,650 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Railway Quarters

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your potential costs using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Railway Quarters?

The Railway Quarters area is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Thiruvallur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it can influence the overall costs involved in the transaction.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Railway Quarters?

The current guideline value of Railway Quarters is Rs 1,100 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 153 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, with various increases and decreases along the way.

What is the registration fee for properties in Railway Quarters?

The registration fee is calculated at 2% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 11,00,000, the registration fee would be Rs 22,000.

Where can I find the Sub Registrar Office for Railway Quarters?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone.

How is stamp duty calculated for properties in Railway Quarters?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher. For instance, on a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000.