Guideline Value for Walajabad Road

Walajabad Road guideline value

The current guideline value of Walajabad Road in Thirumangalam village is Rs 1,750 per sq.ft, effective from 1 July 2024. This falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Commercial Class I Type - II.

How the guideline value of Walajabad Road has changed

The guideline value for Walajabad Road has seen several revisions over the years. The 2012 revision set the value at Rs 1,750 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,172 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 1,750 per sq.ft, a figure that was maintained through the 2024 revision, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Walajabad Road. Overall, from 2012 to 2024, the guideline value has remained consistent at Rs 1,750 per sq.ft.

Guideline values in Thirumangalam

In Thirumangalam village, there are 42 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 2,000 per sq.ft, with a median value of Rs 605 per sq.ft. The guideline value of Walajabad Road is above this median, indicating a higher valuation compared to many other streets in the area.

• Velankanni Nagar: Rs 605 per sq.ft (2024)
• Union Street: Rs 400 per sq.ft (2024)
• Thriruvalluvar Street: Rs 605 per sq.ft (2024)
• Thiruvallur Road (Sunguvar Chatram Bus Stop To Vasuki Thirumana Mahal): Rs 1,750 per sq.ft (2024)
• Thiruvallur Road (Sunguvar Chatram Bus Stop To Palkarar Street): Rs 2,000 per sq.ft (2024)
• Thiruvallur Road (Annai Velanganni Nagar First Street to Kandigai): Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Walajabad Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,750 per sq.ft, the total guideline value amounts to Rs 17,50,000. The stamp duty at 7% would be Rs 1,22,500, and the registration fee at 2% would be Rs 35,000, bringing the total cost for these fees to Rs 1,57,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Walajabad Road?

The Sub Registrar Office that covers Walajabad Road is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential reference point when registering property transactions in Thirumangalam. It helps determine the stamp duty and registration fees that need to be paid, ensuring that all transactions are conducted in accordance with the state's regulations.

When buying or selling property, the guideline value serves as a baseline for the legal valuation of the property. This ensures transparency and consistency in property transactions, making it a crucial aspect of real estate dealings in the area.

Frequently asked questions

What is the current guideline value of Walajabad Road?

The current guideline value of Walajabad Road is Rs 1,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,750 per sq.ft since 2012, with a drop to Rs 1,172 per sq.ft in 2017, followed by a return to Rs 1,750 per sq.ft in 2023 and maintained in 2024.

What is the land classification of Walajabad Road?

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

What are the stamp duty and registration fees for property in Walajabad Road?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, these fees total Rs 1,57,500.

Where is the Sub Registrar Office for Walajabad Road located?

The Sub Registrar Office covering Walajabad Road is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.