Guideline Value for Station 1st Road

Station 1st Road guideline value

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

How the guideline value of Station 1st Road has changed

Over the years, the guideline value of Station 1st Road has seen several revisions. The earliest recorded figure is from 2003, where the value was Rs 1,006 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, followed by a significant jump to Rs 3,500 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 2,345 per sq.ft. The 2023 revision saw an increase to Rs 3,750 per sq.ft, and the most recent revision in 2024 has set the value at Rs 3,850 per sq.ft, marking a 3% increase from the previous year.

In summary, from 2003 to 2024, the guideline value has increased by 283%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing the 2024 value of Station 1st Road above this median.

• Station 1st Cross Street: 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 Road

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, while the registration fee at 2% would be Rs 77,000, totaling 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Station 1st Road?

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

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

When buying or selling property in Zaminpallavaram, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

Both buyers and sellers should be aware that the guideline value is used to calculate the applicable charges, ensuring that the transaction is compliant with local regulations. This value is essential for accurately assessing the financial implications of property transactions in the area.

Frequently asked questions

What is the current guideline value of Station 1st Road?

The current guideline value of Station 1st Road 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 increased from Rs 1,006 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 283% over this period.

What is the registration office for Station 1st Road?

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

How is stamp duty calculated for properties on Station 1st Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500.

What other streets in Zaminpallavaram have the same guideline value?

Other streets in Zaminpallavaram with the same guideline value of Rs 3,850 per sq.ft include Station 1st Cross Street, Station 2nd Cross Street, Station Border Road, Station Border Street, Station Cross Street, and Station Line 1st Street.