Guideline Value for Walajah Street

Walajah Street guideline value

The current guideline value of Walajah Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Mangadu -A village, under the Kunrathur SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Walajah Street has changed

The guideline value for Walajah Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,870 per sq.ft, an increase from Rs 1,700 per sq.ft in 2023, marking a 10% rise. Prior to that, the 2017 revision recorded the value at Rs 1,139 per sq.ft, indicating a significant increase of 49% from 2017 to 2023. Notably, the overall increase from 2017 to 2024 is 64%.

It is important to note that the register has no figures for Walajah Street for the years 2002, 2003, 2007, and 2012. The absence of figures means that the changes in guideline values during those years are not documented.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, which is equal to the current guideline value of Walajah Street.

• V.M.S. Nagar: Rs 1,430 per sq.ft (2024)
• Visalakshi Nagar: Rs 1,870 per sq.ft (2024)
• Vinayaga Nagar: Rs 1,870 per sq.ft (2024)
• Vignesh Nagar: Rs 1,870 per sq.ft (2024)
• Velleeswarar Koil Street: Rs 1,870 per sq.ft (2024)
• Vasanthapuri Phase I: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Walajah Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty, charged at 7%, would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total cost for these fees to Rs 1,68,300. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Walajah Street?

The Sub Registrar Office that covers Walajah Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information on finding your SRO, you can find your SRO.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial reference for property transactions in Mangadu -A, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Walajah Street?

The current guideline value of Walajah Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,139 per sq.ft in 2017 to Rs 1,870 per sq.ft in 2024, reflecting an overall increase of 64%. The value increased by 10% from 2023 to 2024 and by 49% from 2017 to 2023.

What is the land classification for Walajah Street?

Walajah Street falls under the Residential Class I Type - I land classification, indicating its suitability for residential purposes.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles property registrations for Walajah Street.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 18,70,000, the stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400.