Guideline Value for Station Line 1st Street

Station Line 1st Street guideline value

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

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

The guideline value for Station Line 1st 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. This was a significant rise of 81%. The value then surged by 250% to Rs 3,500 per sq.ft in 2012, before dropping by 33% to Rs 2,345 per sq.ft in 2017. The next revision in 2023 saw a substantial increase of 60%, bringing the value to Rs 3,750 per sq.ft. 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.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 595%.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with the 2024 guideline values 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, indicating that Station Line 1st Street's 2024 figure is above this median.

• Station Cross Street: Rs 3,850 per sq.ft (2024)
• Station Border Street: Rs 3,850 per sq.ft (2024)
• Station Road (Chromepet): Rs 3,850 per sq.ft (2024)
• Station Border Road: Rs 3,850 per sq.ft (2024)
• Station Road Junction to M.I.T. Gate: Rs 3,850 per sq.ft (2024)
• Station 2nd Cross Street: Rs 3,850 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees 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.

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

Which Sub Registrar Office covers Station Line 1st Street?

The Sub Registrar Office that covers Station Line 1st 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 more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value serves as a benchmark for assessing the transaction's legitimacy. It helps prevent underreporting of sale prices, ensuring that the appropriate taxes are collected based on the actual market value of the property.

Frequently asked questions

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

The current guideline value of Station Line 1st 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, marking an overall increase of 595% over this period.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Station Line 1st Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the median guideline value in Zaminpallavaram?

The median guideline value for streets in Zaminpallavaram is Rs 3,300 per sq.ft, with Station Line 1st Street's value being above this median.