Guideline Value for Railway Station Road

Railway Station Road guideline value

The current guideline value of Railway Station Road in Issa Pallavaram village is Rs 4,950 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Mixed Type - I land.

How the guideline value of Railway Station Road has changed

The guideline value for Railway Station Road has evolved significantly over the years. In the 2003 revision, the value was Rs 875 per sq.ft, which increased to Rs 1,750 per sq.ft in 2007, marking a 100% increase. The 2012 revision saw a further rise to Rs 4,500 per sq.ft, representing a 157% increase. However, in 2017, the value dropped to Rs 3,015 per sq.ft, showing a decrease of 33%. The 2023 revision set the value at Rs 4,500 per sq.ft, and the latest 2024 revision increased it to Rs 4,950 per sq.ft, reflecting a 10% rise.

Overall, from 2003 to 2024, the guideline value has increased by 466%. Notably, there is no figure available for the year 2002 in the register for this street.

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. Railway Station Road's 2024 figure of Rs 4,950 per sq.ft is above this median.

• Railway Station Cross Street: 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 Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total fees 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 Road?

The Railway Station Road 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 more information.

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

The guideline value plays a crucial role when buying or selling property in Issa Pallavaram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

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 the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Railway Station Road?

The current guideline value of Railway Station Road in Issa Pallavaram is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 875 per sq.ft in 2003 to Rs 4,950 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Railway Station Road?

Railway Station Road is classified as Mixed Type - I land, which indicates its diverse usage potential.

Where can I find the Sub Registrar Office for Railway Station Road?

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

How is the stamp duty calculated for properties in Issa Pallavaram?

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