Guideline Value for STATION ROAD

Station Road guideline value

The current guideline value of Station Road in Mambalam village is Rs 12,100 per sq.ft, effective from 1 July 2024. This area falls under the Thiyagaraya nagar SRO and is classified as Mixed Special Type - II land.

How the guideline value of Station Road has changed

The guideline value for Station Road has seen significant changes over the years. In 2002, the value was Rs 993 per sq.ft, which increased to Rs 1,500 per sq.ft in 2003, marking a 51% rise. The value then rose to Rs 2,500 per sq.ft in 2007, a 67% increase. Following this, the value surged to Rs 11,000 per sq.ft in 2012, reflecting a remarkable 340% growth. However, it decreased to Rs 7,370 per sq.ft in 2017, a decline of 33%. The value then increased to Rs 11,000 per sq.ft in 2023, before reaching the current figure of Rs 12,100 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1119%. There are no figures available for revisions in years other than those listed above.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value is Rs 6,600 per sq.ft, and the guideline value for Station Road is above this median.

• Station View Road: Rs 8,300 per sq.ft (2024)
• Subba Reddy Street: Rs 7,700 per sq.ft (2024)
• Srirampet: Rs 7,700 per sq.ft (2024)
• Srinivasan Street: Rs 7,700 per sq.ft (2024)
• Srinivasan Iyengar Street: Rs 6,600 per sq.ft (2024)
• Srinivasan Iyengar 2 Nd Street: Rs 4,400 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 12,100 per sq.ft, the guideline value amounts to Rs 1,21,00,000. The stamp duty at 7% would be Rs 8,47,000, and the registration fee at 2% would be Rs 2,42,000, totaling Rs 10,89,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Station Road?

The Sub Registrar Office that covers Station Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mambalam. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the correct amount based on the property's assessed value.

When a property is sold, the buyer and seller must adhere to the guideline value set by the authorities. This value ensures transparency in property transactions and helps in maintaining a consistent pricing structure across the region.

Frequently asked questions

What is the current guideline value of Station Road?

The current guideline value of Station Road is Rs 12,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 993 per sq.ft in 2002 to Rs 12,100 per sq.ft in 2024, representing an overall increase of 1119%.

What is the registration office for Station Road?

The registration office for Station Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

What are the stamp duty and registration fees for a property on Station Road?

For a 1,000 sq.ft property on Station Road, the total stamp duty and registration fees would amount to Rs 10,89,000, based on the current guideline value.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring that the correct amounts are paid based on the assessed value of the property.