Guideline Value for WOW BY URBAN TREE

Wow By Urban Tree guideline value

The current guideline value of Wow By Urban Tree is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Wow By Urban Tree has changed

The guideline value for Wow By Urban Tree has seen several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped by 33% to Rs 2,010 per sq.ft. The following revision in 2023 increased the value significantly to Rs 3,000 per sq.ft, and the most recent revision in 2024 raised it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions include a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, making the guideline value of Wow By Urban Tree notably above this median.

• Vijay Nagar: Rs 2,725 per sq.ft (2024)
• V.G.P. Prabhu Nagar Part II: Rs 2,750 per sq.ft (2024)
• V.G.P. Prabhu Nagar: Rs 2,750 per sq.ft (2024)
• V.G.P. Gokul Nagar: Rs 3,300 per sq.ft (2024)
• Veeramamunivar Street: Rs 3,300 per sq.ft (2024)
• Vanchinathan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Wow By Urban Tree

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Wow By Urban Tree?

The Sub Registrar Office covering Wow By Urban Tree is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Perumbakkam

The guideline value plays a crucial role in property transactions in Perumbakkam. It is used to determine the stamp duty and registration fees during the registration process. Buyers and sellers must consider this value when finalizing the sale price of a property.

When registering a property, the guideline value or the sale price, whichever is higher, will be used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Wow By Urban Tree?

The current guideline value of Wow By Urban Tree is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Wow By Urban Tree?

Wow By Urban Tree is classified as Residential Special Type - II, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 2,97,000 in fees.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more details by visiting the provided link.