Guideline Value for Walajabad Main Road

Walajabad Main Road guideline value

The current guideline value of Walajabad Main Road in Varadarajapuram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This property falls under the Padappai SRO and is classified as Commercial Class I Type - I.

How the guideline value of Walajabad Main Road has changed

Over the years, the guideline value of Walajabad Main Road has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from Rs 2,010 per sq.ft in 2017. The 2023 revision increased the value to Rs 3,000 per sq.ft, and the latest revision in 2024 raised it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 3,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, and the guideline value of Walajabad Main Road is above this median.

• Wax Pattanam: Rs 1,100 per sq.ft (2024)
• V.M. Garden - S.No.505: Rs 990 per sq.ft (2024)
• V.M.Garden Phase -II: Rs 1,330 per sq.ft (2024)
• V.M. Garden: Rs 1,650 per sq.ft (2024)
• Z L M J Avenue: Rs 990 per sq.ft (2024)
• Vishwak Gold City: Rs 1,650 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our 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 Varadarajapuram

When buying or selling property in Varadarajapuram, the guideline value is an important factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately.

It is essential to be aware of the guideline value as it can influence the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Walajabad Main Road?

The current guideline value of Walajabad Main Road 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, representing a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing various changes over the years.

What is the land classification for Walajabad Main Road?

Walajabad Main Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the registration office for Walajabad Main Road?

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

How is the stamp duty calculated for properties in Walajabad Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.