Guideline Value for WATTER LAND DRIVE

Watter Land Drive guideline value

The current guideline value of Watter Land Drive is Rs 11,000 per sq.ft. It is located in Thiruvanmiyur village under the Chennai South Joint I SRO, and the land classification is Residential Special Type - II.

How the guideline value of Watter Land Drive has changed

The guideline value for Watter Land Drive has undergone several revisions over the years. In 2012, the guideline value was Rs 10,000 per sq.ft. This figure decreased to Rs 6,700 per sq.ft in 2017. However, the value increased significantly in the following years, reaching Rs 10,000 per sq.ft in 2023 and then rising to Rs 11,000 per sq.ft in 2024.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The increase from 2023 to 2024 is 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value is Rs 9,900 per sq.ft, making Watter Land Drive's 2024 figure of Rs 11,000 per sq.ft above the median.

• West Kulakari Veethi: Rs 7,150 per sq.ft (2024)
• West Mada Veethi: Rs 7,150 per sq.ft (2024)
• West Tankview Street: Rs 7,150 per sq.ft (2024)
• Yamuna Street: Rs 11,000 per sq.ft (2024)
• Vikram Sarabai Instronics Estate: Rs 12,650 per sq.ft (2024)
• Vembuli Amman Kovil Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Watter Land Drive

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total cost together to Rs 9,90,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your costs using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Watter Land Drive?

The Sub Registrar Office that covers Watter Land Drive is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is an important factor during the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value is used to assess the appropriate taxes. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value and the sale price, ensuring that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Watter Land Drive?

The current guideline value of Watter Land Drive is Rs 11,000 per sq.ft as of the 2024 revision, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 10,000 per sq.ft in 2012 to Rs 6,700 per sq.ft in 2017, then to Rs 10,000 per sq.ft in 2023, and finally to Rs 11,000 per sq.ft in 2024.

What is the land classification for Watter Land Drive?

The land classification for Watter Land Drive is Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in Watter Land Drive?

For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000 and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000. Duty is charged on the higher of the guideline value or the sale price.

Which office handles property registrations in Thiruvanmiyur?

The Chennai South Joint I Sub Registrar Office handles property registrations in Thiruvanmiyur, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.