Guideline Value for Station 1st Cross Street

Station 1st Cross Street guideline value

The current guideline value of Station 1st Cross Street in Zaminpallavaram village is Rs 3,850 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Mixed Type - I land.

How the guideline value of Station 1st Cross Street has changed

The guideline value for Station 1st Cross Street has undergone several revisions over the years. In 2003, the value was Rs 554 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. Following that, the value saw a significant rise to Rs 3,500 per sq.ft in 2012, before dropping to Rs 2,345 per sq.ft in 2017. The 2023 revision set the value at Rs 3,750 per sq.ft, and the latest revision in 2024 has increased it to Rs 3,850 per sq.ft, marking a 3% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 595%. Notably, there is no registered figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the 2024 guideline value of Station 1st Cross Street above this median.

• Station 1st Road: Rs 3,850 per sq.ft (2024)
• Station 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Station Border Road: Rs 3,850 per sq.ft (2024)
• Station Border Street: Rs 3,850 per sq.ft (2024)
• Station Cross Street: Rs 3,850 per sq.ft (2024)
• Station Line 1st Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Station 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Station 1st Cross Street?

The Sub Registrar Office that covers Station 1st Cross Street 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 further assistance.

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. Buyers and sellers must be aware of the guideline value as it affects the overall costs involved in property transactions.

When purchasing property, the guideline value serves as a reference point for both buyers and sellers. It is essential to consider this value to avoid any discrepancies during the registration process and ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Station 1st Cross Street?

The current guideline value of Station 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 554 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 595% over this period.

What is the registration office for Station 1st Cross Street?

The registration office for Station 1st Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 38,50,000 in Station 1st Cross Street, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Are there other streets with the same guideline value?

Yes, there are several other streets in Zaminpallavaram that share the same guideline value of Rs 3,850 per sq.ft for 2024, including Station 1st Road and Station 2nd Cross Street.