Guideline Value for Southern Railway Employees Nagar

Southern Railway Employees Nagar guideline value

The current guideline value of Southern Railway Employees Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Pammathukulam village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Southern Railway Employees Nagar has changed

Since the 2002 revision, the guideline value has undergone several changes. In 2002, the value was Rs 189 per sq.ft, which decreased to Rs 20 per sq.ft in 2003. Following this, the value saw a significant increase of 400% to reach Rs 100 per sq.ft in 2007. The 2012 revision brought the value back up to Rs 500 per sq.ft, marking a 400% increase from the previous figure. However, it then dropped by 33% to Rs 335 per sq.ft in 2017. The 2023 revision set the value at Rs 500 per sq.ft, and the latest revision in 2024 raised it to Rs 550 per sq.ft, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 191%. There are no figures available for the years between 2003 and 2007, and no other revisions are recorded for this street.

Guideline values in Pammathukulam

In Pammathukulam, there are 101 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft. The median value for these streets is Rs 550 per sq.ft, which is equal to the guideline value of Southern Railway Employees Nagar.

• Sri Abirami Nagar: Rs 550 per sq.ft (2024)
• Sri Abirami Nagar Extention: Rs 550 per sq.ft (2024)
• Sri Abirami Nagar Extention - 1: Rs 550 per sq.ft (2024)
• Sri Abirami Nagar Extn - II: Rs 550 per sq.ft (2024)
• Sri Balaji Nagar: Rs 330 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Southern Railway Employees Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, resulting in a total of Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Southern Railway Employees Nagar?

The Southern Railway Employees Nagar falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Pammathukulam. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Southern Railway Employees Nagar?

The current guideline value of Southern Railway Employees Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 189 per sq.ft in 2002 to Rs 550 per sq.ft in 2024, representing an overall increase of 191% over the years.

What is the land classification for Southern Railway Employees Nagar?

Southern Railway Employees Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500, and the registration fee would be Rs 11,000, totaling Rs 49,500.

Where can I find the Sub Registrar Office for Southern Railway Employees Nagar?

The Redhills Sub Registrar Office covers Southern Railway Employees Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.