Guideline Value for STATION VIEW ROAD

Station View Road guideline value

The current guideline value of Station View Road is Rs 8,300 per sq.ft, effective from 1 July 2024. This road is located in Mambalam village under the Thiyagaraya nagar SRO, classified as Residential Class I Type - I.

How the guideline value of Station View Road has changed

Since the 2002 revision, the guideline value for Station View Road has seen significant changes. In 2002, the value was Rs 602 per sq.ft, which increased to Rs 668 per sq.ft in 2003, marking an 11% rise. The value then jumped to Rs 2,000 per sq.ft in 2007, a substantial increase of 199%. Following this, the value decreased to Rs 7,500 per sq.ft in 2012, reflecting a decline of 33%. The 2017 revision saw a rise to Rs 5,025 per sq.ft, and by 2023, it increased further to Rs 7,500 per sq.ft, a 49% increase. The latest revision in 2024 has set the value at Rs 8,300 per sq.ft, representing an 11% increase from the previous year.

There are no figures available for the guideline value of Station View Road for the years 2012 and 2017 in the register. Overall, from 2002 to 2024, the guideline value has increased by 1,279%.

Guideline values in Mambalam

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

• Station Road: Rs 12,100 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 View Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total guideline value would be Rs 83,00,000. The stamp duty at 7% would amount to Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, bringing the total to Rs 7,47,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Station View Road?

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

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

The guideline value plays a crucial role in property transactions in Mambalam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. This ensures that the transaction is recorded at a value that reflects the official rates set by the government.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. Understanding these values can help in planning the financial aspects of buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Station View Road?

The current guideline value of Station View Road is Rs 8,300 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 602 per sq.ft in 2002 to Rs 8,300 per sq.ft in 2024, marking an overall increase of 1,279%.

What are the stamp duty and registration fees for properties on Station View Road?

For a property valued at Rs 83,00,000, the stamp duty would be Rs 5,81,000, and the registration fee would be Rs 1,66,000, totaling Rs 7,47,000.

Which office handles property registrations for Station View Road?

The Thiyagaraya nagar Sub Registrar Office handles property registrations for Station View Road, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

What is the land classification for Station View Road?

Station View Road is classified as Residential Class I Type - I, indicating its suitability for residential purposes.