Guideline Value for STATION ROAD (KORATTUR BUS TERMINUS TO RAILWAY STATION)

Station Road (Korattur Bus Terminus To Railway Station) guideline value

The current guideline value for Station Road (Korattur Bus Terminus To Railway Station) is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO, classified as Mixed Type - II land.

How the guideline value of Station Road (Korattur Bus Terminus To Railway Station) has changed

The guideline value for Station Road has undergone several revisions over the years. In 2007, the value was set at Rs 800 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a substantial rise of 400%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 saw the guideline value rise to Rs 4,400 per sq.ft, an increase of 64% from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Korattur

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

• Station Road (From Britannia To Avain): Rs 4,400 per sq.ft (2024)
• Station Road (Station To North Township School): Rs 3,300 per sq.ft (2024)
• Station Road (Avin To Bus Stand): Rs 4,900 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 (Korattur Bus Terminus To Railway Station)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Station Road (Korattur Bus Terminus To Railway Station)?

The Sub Registrar Office that covers Station Road (Korattur Bus Terminus To Railway Station) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Korattur. It is used to determine the minimum value at which a property can be registered, ensuring that the property is not undervalued during the sale process. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during registration.

When a property is sold, the guideline value is also used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. Understanding these values helps in planning the financial aspects of a property transaction.

Frequently asked questions

What is the current guideline value for Station Road (Korattur Bus Terminus To Railway Station)?

The current guideline value for Station Road (Korattur Bus Terminus To Railway Station) is Rs 4,400 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 800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office should I approach for registration?

The Villivakkam Sub Registrar Office covers Station Road (Korattur Bus Terminus To Railway Station), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the minimum registration value of a property and is used to calculate the stamp duty and registration fees during property transactions.