Guideline Value for Shaw Wallas Colony

Shaw Wallas Colony guideline value

The current guideline value of Shaw Wallas Colony, located in Chitlapakkam village under the Tambaram Joint 1 SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Shaw Wallas Colony has changed

Over the years, the guideline value of Shaw Wallas Colony has seen several revisions. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, an increase from the 2023 figure of Rs 2,500 per sq.ft, marking a change of +10%. Prior to that, the 2017 revision recorded a value of Rs 1,675 per sq.ft, which was a significant increase of +49% compared to the 2012 figure of Rs 2,500 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by -33%, but from 2012 to 2024, the overall change is +10%. This shows a gradual adjustment in the guideline value over the years, reflecting the revisions made in the register.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Shaw Wallas Colony's 2024 figure above this median.

• Shaw Wallas avenue: Rs 2,750 per sq.ft (2024)
• Sharmila St: Rs 3,850 per sq.ft (2024)
• Sharangapani Street: Rs 1,320 per sq.ft (2024)
• Shanthi Avenue 2nd Street: Rs 3,300 per sq.ft (2024)
• Shanthi Avenue 1st Street: Rs 1,650 per sq.ft (2024)
• Shanthi Avenue: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Shaw Wallas Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty, charged at 7%, would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shaw Wallas Colony?

The Shaw Wallas Colony falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their transactions. This value helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Shaw Wallas Colony?

The current guideline value of Shaw Wallas Colony is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, with several revisions in between, including a decrease from 2012 to 2017 and an increase from 2023 to 2024.

What is the land classification for Shaw Wallas Colony?

Shaw Wallas Colony is classified as Residential Class I Type - II, indicating its use for residential purposes.

What is the median guideline value in Chitlapakkam?

The median guideline value for streets in Chitlapakkam is Rs 1,650 per sq.ft, with Shaw Wallas Colony's 2024 figure being above this median.

Where is the Tambaram Joint 1 Sub Registrar Office located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.