Guideline Value for Railway Road

Railway Road guideline value

The current guideline value of Railway Road, located in 2nd Division village under the Kanchipuram Joint IV SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Railway Road has changed

The guideline value for Railway Road has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision. The changes between these revisions are notable, with a 200% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a substantial increase of 49% from 2017 to 2023, culminating in a 10% rise from 2023 to 2024.

The guideline value register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in 2nd Division

In 2nd Division, there are 101 streets under the Kanchipuram Joint IV SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, indicating that Railway Road's 2024 figure of Rs 3,300 per sq.ft is above the median.

• Rajampet Saliyar Street: Rs 1,100 per sq.ft (2024)
• Rajampet Street: Rs 3,300 per sq.ft (2024)
• Ramana Nagar: Rs 1,100 per sq.ft (2024)
• Reddipet Keezh Santhu: Rs 1,100 per sq.ft (2024)
• Sangusapet Street: Rs 3,300 per sq.ft (2024)
• Pallikudathan Mudali Street @ Mettu Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Railway Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Railway Road?

The Railway Road is covered by the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 2nd Division

When buying or selling property in 2nd Division, the guideline value is crucial as it determines the amount of stamp duty and registration fees applicable during the registration process. The guideline value serves as a benchmark for the transaction, ensuring that the fees are calculated appropriately based on the property's value.

It is essential to be aware that the guideline value may differ from the actual sale price of the property. Therefore, buyers and sellers should always refer to the latest guideline values to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Railway Road?

The current guideline value of Railway Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a significant increase of 230% over this period.

What is the land classification of Railway Road?

Railway Road is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the registration office for Railway Road?

The registration office covering Railway Road is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

How is stamp duty calculated for properties on Railway Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.