Guideline Value for Walajabad Road

Walajabad Road guideline value

The current guideline value of Walajabad Road in Panapakkam village, under the Padappai SRO, is Rs 990 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Walajabad Road has changed

Over the years, the guideline value of Walajabad Road has seen several revisions. The 2012 revision set the value at Rs 900 per sq.ft, which was then reduced to Rs 603 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, the value increased significantly to Rs 900 per sq.ft in the 2023 revision, reflecting a rise of 49%. The most recent revision in 2024 has further increased the value to Rs 990 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panapakkam

In Panapakkam, there are 28 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 990 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Walajabad Road's 2024 figure above this median.

• Vinayaga Nagar II: Rs 660 per sq.ft (2024)
• Vadapalani Murugan Nagar: Rs 770 per sq.ft (2024)
• Thirumurugan Nagar: Rs 770 per sq.ft (2024)
• Thiruchendhur Garden II: Rs 770 per sq.ft (2024)
• Thiruchendhur Garden: Rs 660 per sq.ft (2024)
• Thanigai Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Walajabad Road

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total to Rs 89,100. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Walajabad Road?

The Sub Registrar Office that covers Walajabad 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 Panapakkam

The guideline value plays a crucial role in property transactions in Panapakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling a property. The guideline value is set by the government and is periodically revised to reflect changes in the real estate market.

When a property is registered, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. 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 Walajabad Road?

The current guideline value of Walajabad 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 increased 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 Road?

The land classification for Walajabad Road is Residential Special Type - I.

Where can I find the Sub Registrar Office for Walajabad Road?

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

How is the stamp duty calculated for properties in Panapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 at a rate of 7%.