Guideline Value for STATION BORDER ROAD

Station Border Road guideline value

The current guideline value of Station Border Road in Hastinapuram village is Rs 2,970 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Station Border Road has changed

The guideline value for Station Border Road has seen several revisions over the years. In 2012, the guideline value was Rs 2,700 per sq.ft. This figure remained unchanged until 2017 when it dropped to Rs 1,809 per sq.ft. The value then increased significantly to Rs 2,700 per sq.ft in 2023, followed by the current value of Rs 2,970 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it rose by 49%. The most recent change from 2023 to 2024 reflects a 10% increase, bringing the overall change from 2012 to 2024 to a 10% increase.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value is Rs 2,970 per sq.ft, which is equal to the guideline value of Station Border Road.

• State Bank Colony: Rs 3,850 per sq.ft (2024)
• Subramani Street: Rs 1,650 per sq.ft (2024)
• Sudamani Street: Rs 1,650 per sq.ft (2024)
• Sundarthamman Colony: Rs 3,300 per sq.ft (2024)
• Sriram Nagar: Rs 3,300 per sq.ft (2024)
• Srinivasan Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Station Border Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty, charged at 7%, would be Rs 2,07,900, while the registration fee at 2% would be Rs 59,400. Together, these fees total Rs 2,67,300. 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 Station Border Road?

The Sub Registrar Office that covers Station Border Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Hastinapuram, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that both the buyer and seller adhere to the legal requirements set by the government.

When a property is sold, the guideline value serves as a reference point for the transaction. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price. Conversely, if the sale price is lower, the duty is charged on the guideline value.

Frequently asked questions

What is the current guideline value of Station Border Road?

The current guideline value of Station Border Road is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then increased to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,970 per sq.ft in 2024.

What is the land classification for Station Border Road?

Station Border Road is classified as Residential Class I Type - I.

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

The Sub Registrar Office for Station Border Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Hastinapuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 29,70,000, the stamp duty would be calculated at 7% of this amount.