Guideline Value for WIPRO ROAD (OMR)

Wipro Road (Omr) guideline value

The current guideline value of Wipro Road (Omr) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Sholinganallur - 1 village, under the Neelankarai SRO, and is classified as Residential Special Type - III.

How the guideline value of Wipro Road (Omr) has changed

The guideline value for Wipro Road (Omr) has seen significant revisions over the years. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 5,000 per sq.ft. Prior to that, in 2017, the value was Rs 3,350 per sq.ft, reflecting a 49% increase from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The absence of data from these years indicates that the guideline value was not established for Wipro Road (Omr) during those revisions.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, making Wipro Road (Omr)'s 2024 figure of Rs 5,500 per sq.ft significantly above that median.

• Wipro Co. (Sez) (Wipro Ltd.,): Rs 5,500 per sq.ft (2024)
• Yadaval Street: Rs 3,300 per sq.ft (2024)
• V.O.C.Street: Rs 3,900 per sq.ft (2024)
• Vivkanathan Garden: Rs 1,700 per sq.ft (2024)
• Vishnu Garden: Rs 1,000 per sq.ft (2024)
• Village Road 1st Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Wipro Road (Omr)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Wipro Road (Omr)?

The Wipro Road (Omr) falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find more information, you can find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in the registration process when buying or selling property in Sholinganallur - 1. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded in accordance with the prevailing rates.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Wipro Road (Omr)?

The current guideline value of Wipro Road (Omr) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,350 per sq.ft in 2017 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 64% during this period.

What is the registration office for Wipro Road (Omr)?

The Neelankarai Sub Registrar Office covers Wipro Road (Omr), located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties on Wipro Road (Omr)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at 7%.

What are the other streets in Sholinganallur - 1 and their guideline values?

Other streets in Sholinganallur - 1 have varying guideline values. For instance, Wipro Co. (Sez) is also valued at Rs 5,500 per sq.ft, while Yadaval Street is at Rs 3,300 per sq.ft.