Guideline Value for Walajabad Main Road

Walajabad Main Road guideline value

The current guideline value of Walajabad Main Road is Rs 990 per sq.ft, effective from 1 July 2024. This road is located in Serapanancheri village and falls under the Padappai SRO, classified as Residential Special Type - I.

How the guideline value of Walajabad Main Road has changed

The guideline value for Walajabad Main Road has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 900 per sq.ft. In 2017, this value decreased to Rs 603 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase to Rs 900 per sq.ft, which is a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 990 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the values from 2012 to 2024, there has been a net increase of 10% in the guideline value.

Guideline values in Serapanancheri

In Serapanancheri, there are 53 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,440 per sq.ft. The median value for these streets is Rs 720 per sq.ft, placing the guideline value of Walajabad Main Road above this median.

• Zion Nagar: Rs 720 per sq.ft (2024)
• Vinneesa Nagar: Rs 720 per sq.ft (2024)
• Vignesh Nagar: Rs 720 per sq.ft (2024)
• Vetri Vinayagar Avenue: Rs 720 per sq.ft (2024)
• Vetri Nagar: Rs 720 per sq.ft (2024)
• Venkatajalapathi Nagar: Rs 720 per sq.ft (2024)

Stamp duty and registration fee for property in Walajabad Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty, charged at 7%, would be Rs 69,300, while the registration fee at 2% would be Rs 19,800. Together, the total cost for stamp duty and registration would be Rs 89,100. It is important to note that 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 details.

Which Sub Registrar Office covers Walajabad Main Road?

The Sub Registrar Office that covers Walajabad Main Road is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Serapanancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is compliant with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Walajabad Main Road?

The current guideline value of Walajabad Main Road is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Walajabad Main Road?

Walajabad Main Road is classified as Residential Special Type - I.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties on Walajabad Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 990 per sq.ft would incur a stamp duty of Rs 69,300.