Guideline Value for Wallajah Salai

Wallajah Salai guideline value

The current guideline value of Wallajah Salai is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane Sub Registrar Office (SRO). The land classification for this area is Commercial Special Type - IV.

How the guideline value of Wallajah Salai has changed

The guideline value for Wallajah Salai has seen several revisions over the years. In 2002, the guideline value was Rs 2,791 per sq.ft, which increased to Rs 3,062 per sq.ft in 2003, marking a 10% rise. The value further rose to Rs 5,430 per sq.ft in 2007, reflecting a significant increase of 77%. By 2012, the guideline value remained at Rs 13,000 per sq.ft, with no changes recorded until 2023.

In 2023, the guideline value was again Rs 13,000 per sq.ft, and it saw a notable increase of 10% to reach Rs 14,300 per sq.ft in the 2024 revision. Overall, from 2002 to 2024, the guideline value has increased by 412%. The register has no figure for Wallajah Salai in the 2017 revision.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Wallajah Salai's 2024 figure above this median.

• Wallers 1st Lane: Rs 13,200 per sq.ft (2024)
• Wallers 2nd Lane: Rs 13,200 per sq.ft (2024)
• Wallers Road: Rs 16,500 per sq.ft (2024)
• Weavers Street: Rs 6,600 per sq.ft (2024)
• Welders Street: Rs 7,700 per sq.ft (2024)
• West Cott Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Wallajah Salai

For a 1,000 sq.ft plot at the current rate of Rs 14,300 per sq.ft, the guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, while the registration fee at 2% would be Rs 2,86,000, bringing the total to Rs 12,87,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Wallajah Salai?

The Sub Registrar Office that covers Wallajah Salai is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. It is important to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Wallajah Salai?

The current guideline value of Wallajah Salai is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,791 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, reflecting an overall increase of 412% over the years.

What is the land classification for Wallajah Salai?

The land classification for Wallajah Salai is Commercial Special Type - IV, indicating its designated use within the area.

Where is the Triplicane Sub Registrar Office located?

The Triplicane Sub Registrar Office is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Wallajah Salai?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 1,43,00,000, the stamp duty would be Rs 10,01,000.