Guideline Value for STATION ROAD (AVIN TO BUS STAND)

Station Road (Avin To Bus Stand) guideline value

The current guideline value of Station Road (Avin To Bus Stand) is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Korattur village under the Villivakkam SRO and is classified as Commercial Class I Type - I.

How the guideline value of Station Road (Avin To Bus Stand) has changed

The guideline value for Station Road (Avin To Bus Stand) has undergone several revisions over the years. In 2007, the guideline value was Rs 375 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, this value decreased to Rs 3,015 per sq.ft in 2017 before rising again to Rs 4,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, marking a 9% increase from the previous year.

Notably, there are no figures available for this street in the register for the years 2002 and 2003. The overall increase from 2007 to 2024 is a substantial 1207%, reflecting the changes in the guideline value over these years.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing the 2024 figure for Station Road (Avin To Bus Stand) above this median.

• Station Road (From Britannia To Avain): Rs 4,400 per sq.ft (2024)
• Station Road (Korattur Bus Terminus To Railway Station): Rs 4,400 per sq.ft (2024)
• Station Road (Station To North Township School): Rs 3,300 per sq.ft (2024)
• Subashini Avenue (Kallikuppam): Rs 1,600 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 3,300 per sq.ft (2024)
• Subbulakshmi Nagar: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in Station Road (Avin To Bus Stand)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Station Road (Avin To Bus Stand)?

The Sub Registrar Office that covers Station Road (Avin To Bus Stand) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the established regulations.

Frequently asked questions

What is the current guideline value of Station Road (Avin To Bus Stand)?

The current guideline value of Station Road (Avin To Bus Stand) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 375 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 1207% over this period.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in the area is 7%, which is applied to the higher of the guideline value or the sale price.

Where is the nearest Sub Registrar Office located?

The nearest Sub Registrar Office is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the guideline values for other streets in Korattur?

Other streets in Korattur have varying guideline values, with rates ranging from Rs 1,100 to Rs 8,200 per sq.ft. For example, Station Road (From Britannia To Avain) is Rs 4,400 per sq.ft in 2024.