Guideline Value for STATION ROAD (STATION TO NORTH TOWNSHIP SCHOOL)

Station Road (Station To North Township School) guideline value

The current guideline value of Station Road (Station To North Township School) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of Station Road (Station To North Township School) has changed

The guideline value for Station Road (Station To North Township School) has seen significant changes over the years. In 2007, the guideline value was Rs 500 per sq.ft. This increased dramatically to Rs 3,000 per sq.ft in 2012, marking a 500% rise. However, by 2017, it decreased to Rs 2,010 per sq.ft, a reduction of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, reflecting a 10% change.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 560%. The register does not contain figures for the years 2002 and 2003 for this street.

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 of Rs 3,300 per sq.ft for Station Road (Station To North Township School) is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Station Road (Station To North Township School)?

The Sub Registrar Office that covers Station Road (Station To North Township School) 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 information.

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

The guideline value is a crucial factor when registering property in Korattur. It serves as a benchmark for determining the minimum value at which property transactions must be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers need to be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring transparency in the property transaction process.

Frequently asked questions

What is the current guideline value of Station Road (Station To North Township School)?

The current guideline value of Station Road (Station To North Township School) is Rs 3,300 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 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the land classification of Station Road (Station To North Township School)?

The land classification for Station Road (Station To North Township School) is Residential Special Type - III.

Where can I find the registration office for this area?

The registration office that covers this area is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.