Guideline Value for Wall Tax Road

Wall Tax Road guideline value

The current guideline value of Wall Tax Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This road is located in Vepery village under the Periamet SRO, classified as Residential Special Type - II.

How the guideline value of Wall Tax Road has changed

The guideline value for Wall Tax Road has seen significant changes over the years. In the 2007 revision, the value was Rs 3,000 per sq.ft. This increased to Rs 12,000 per sq.ft in the 2012 revision, marking a substantial rise of 300%. However, in the 2017 revision, the value decreased to Rs 8,040 per sq.ft, a drop of 33%. The value then increased again to Rs 12,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 13,200 per sq.ft in the 2024 revision, which reflects a 10% rise from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Wall Tax Road. Overall, from 2007 to 2024, the guideline value has increased by 340%, showcasing the fluctuations in property valuation over the years.

Guideline values in Vepery

In Vepery village, there are 290 streets under the Periamet SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value for these streets is Rs 4,800 per sq.ft, placing Wall Tax Road's 2024 figure above this median.

• Whannels Road: Rs 13,200 per sq.ft (2024)
• Yennai Karai Street: Rs 4,800 per sq.ft (2024)
• VijayaVigneswar Koil Street: Rs 6,000 per sq.ft (2024)
• VeraChetty 3rd street: Rs 4,800 per sq.ft (2024)
• VeraChetty 2nd street: Rs 4,800 per sq.ft (2024)
• Vera Chetty 1st street: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Wall Tax Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total fees to Rs 11,88,000. It is important to note that the 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 Wall Tax Road?

The Sub Registrar Office covering Wall Tax Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Vepery. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value helps in ensuring that the transaction is registered at a fair value, reflecting the current market conditions. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Wall Tax Road?

The current guideline value of Wall Tax Road is Rs 13,200 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 2007 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What is the land classification for Wall Tax Road?

Wall Tax Road is classified as Residential Special Type - II under the Periamet SRO.

Where can I find the Sub Registrar Office for Wall Tax Road?

The Sub Registrar Office for Wall Tax Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Wall Tax Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 at 7%.