Guideline Value for Railway Station Cross Street

Railway Station Cross Street guideline value

The current guideline value of Railway Station Cross Street in Issa Pallavaram village is Rs 4,950 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Mixed Type - I land.

How the guideline value of Railway Station Cross Street has changed

The guideline value for Railway Station Cross Street has seen several revisions over the years. In 2003, the value was Rs 875 per sq.ft, which increased to Rs 1,750 per sq.ft in 2007, marking a 100% rise. The value then rose significantly to Rs 4,500 per sq.ft in 2012, reflecting a 157% increase. However, in 2017, the value dropped to Rs 3,015 per sq.ft, a decrease of 33%. The value surged again to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,950 per sq.ft from the 2024 revision, showing a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 466%. It is important to note that there is no figure available for this street in the 2002 revision.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Railway Station Cross Street is above this median.

• Railway Station Road: Rs 4,950 per sq.ft (2024)
• Railway Colony: Rs 3,300 per sq.ft (2024)
• Purusothaman Street: Rs 3,300 per sq.ft (2024)
• Pudu Street: Rs 4,400 per sq.ft (2024)
• P.P.Amman Koil St, Western Portion: Rs 3,300 per sq.ft (2024)
• Ramaswamy Kuttai Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Railway Station Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost for these charges to Rs 4,45,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Railway Station Cross Street?

The Railway Station Cross Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Issa Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the necessary charges, ensuring that both buyers and sellers are aware of the financial obligations associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Railway Station Cross Street?

The current guideline value of Railway Station Cross Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 875 per sq.ft in 2003 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 466% over this period.

What are the other streets in Issa Pallavaram and their guideline values?

Other streets in Issa Pallavaram include Railway Station Road at Rs 4,950 per sq.ft, Railway Colony at Rs 3,300 per sq.ft, and Pudu Street at Rs 4,400 per sq.ft, among others.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Railway Station Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 49,50,000 would incur a stamp duty of Rs 3,46,500 at 7%.