Guideline Value for STATION ROAD

Station Road guideline value

The current guideline value of Station Road in Cantonment Pallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Station Road has changed

The guideline value for Station Road has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, this value increased significantly in the 2023 revision to Rs 3,000 per sq.ft, and further rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is a modest increase of 10%. The change from 2017 to 2023 was notable, with a 49% increase, while the 2012 to 2017 period saw a decrease of 33%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram features a range of guideline values across its 81 streets under the Pallavaram SRO. The 2024 figures range from Rs 1,650 to Rs 11,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. Station Road's current guideline value is above this median.

• Tennary Street: Rs 3,300 per sq.ft (2024)
• Srinivasapillai Thottam: Rs 3,300 per sq.ft (2024)
• Srinivasa Perumal Koil Street: Rs 3,850 per sq.ft (2024)
• Sp Koil Street: Rs 3,300 per sq.ft (2024)
• Valluvar Street: Rs 2,700 per sq.ft (2024)
• Venkatachalam Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Station Road

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making a total of Rs 2,97,000. Stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Station Road?

The Sub Registrar Office that covers Station Road is 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 Cantonment Pallavaram

The guideline value is a crucial factor during the registration process of property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions as per the official register. Buyers and sellers should be aware of these values to understand their financial obligations during property transactions.

Frequently asked questions

What is the current guideline value of Station Road?

The current guideline value of Station Road 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 from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Station Road?

Station Road is classified as Residential Class I Type - II under the Pallavaram SRO.

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

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

How is the stamp duty calculated for properties in Station Road?

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