Guideline Value for Railway Station Lane

Railway Station Lane guideline value

The current guideline value of Railway Station Lane, located in Adambakkam village under the Alandur SRO, is Rs 5,000 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Railway Station Lane has changed

The guideline value for Railway Station Lane has seen significant changes 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 14% rise. Following this, the value jumped to Rs 900 per sq.ft in 2007, reflecting a substantial increase of 91%. By 2012, the value had risen to Rs 4,500 per sq.ft, a notable increase of 400% from the previous revision. However, it then decreased to Rs 3,015 per sq.ft in 2017, showing a decline of 33%.

In the subsequent revisions, the guideline value increased again, reaching Rs 4,500 per sq.ft in 2023, which was a 49% increase from the 2017 figure. The most recent revision in 2024 set the guideline value at Rs 5,000 per sq.ft, marking an 11% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,114%.

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, placing Railway Station Lane's 2024 figure above this median.

• Railway Station Road: Rs 5,000 per sq.ft (2024)
• Railway Lane East Side: Rs 3,900 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Railway Station Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total cost for these fees to Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Railway Station Lane?

The Railway Station Lane is covered by 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 details.

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

The guideline value is a crucial factor when registering property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted transparently and fairly.

When you buy or sell property in this area, the guideline value will influence the stamp duty and registration fees you are required to pay. It is essential to be aware of the current guideline value to accurately assess the total costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Railway Station Lane?

The current guideline value of Railway Station Lane is Rs 5,000 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 412 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 1,114%.

What is the land classification for Railway Station Lane?

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

Where can I find the registration office for Railway Station Lane?

The registration office covering Railway Station Lane is the Alandur Sub Registrar Office, 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 guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 50,00,000, the total fees would amount to Rs 4,50,000.