Guideline Value for WADDELS ROAD

Waddels Road guideline value

The current guideline value of Waddels Road, located in Purasaivakkam village, is Rs 12,100 per sq.ft, effective from 1 July 2024. This area falls under the Purasaivakkam SRO and is classified as Residential Special Type - II.

How the guideline value of Waddels Road has changed

Over the years, the guideline value of Waddels Road has seen significant changes. The 2007 revision recorded a value of Rs 2,800 per sq.ft, which increased dramatically to Rs 11,000 per sq.ft in 2012, marking a 293% rise. However, from 2012 to 2017, the value dropped to Rs 7,370 per sq.ft, a decrease of 33%. The subsequent revisions saw the value rise again, reaching Rs 11,000 per sq.ft in 2023, and then increasing by 10% to the current value of Rs 12,100 per sq.ft in 2024.

Additionally, there are no figures available for the revisions in 2002 and 2003 for this street. From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, it has risen by 332%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. Waddels Road's 2024 figure of Rs 12,100 per sq.ft is significantly above this median.

• West Thandavarayan Street: Rs 6,000 per sq.ft (2024)
• Yacoob Garden Lane: Rs 4,900 per sq.ft (2024)
• Yacoob Garden Street: Rs 4,900 per sq.ft (2024)
• Vinai Theertha Vinayagar Koil Street: Rs 5,500 per sq.ft (2024)
• Vijaya Vigneswara Koil Lane: Rs 5,500 per sq.ft (2024)
• Vijaya Vigneshwarar Koil Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Waddels Road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,100 per sq.ft, the total guideline value amounts to Rs 1,21,00,000. The stamp duty at 7% would be Rs 8,47,000, and the registration fee at 2% would be Rs 2,42,000, bringing the total fees together to Rs 10,89,000. 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 Waddels Road?

The Sub Registrar Office that covers Waddels Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value must be considered as it influences the overall cost of the transaction. Buyers should be aware that the guideline value may differ from the sale price, and the higher of the two will be used to calculate applicable duties and fees.

Frequently asked questions

What is the current guideline value of Waddels Road?

The current guideline value of Waddels Road is Rs 12,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, rising from Rs 2,800 per sq.ft in 2007 to Rs 12,100 per sq.ft in 2024, which is an overall increase of 332%.

What is the land classification of Waddels Road?

Waddels Road is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property on Waddels Road?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 10,89,000.

Where is the Sub Registrar Office for Waddels Road located?

The Sub Registrar Office for Waddels Road is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.