Guideline Value for Wallers 1st Lane

Wallers 1st Lane guideline value

The current guideline value of Wallers 1st Lane is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Wallers 1st Lane has changed

The guideline value for Wallers 1st Lane has seen significant changes over the years. In 2007, the value was Rs 2,760 per sq.ft, which increased dramatically to Rs 12,000 per sq.ft in 2012, marking a rise of 335%. However, by 2017, the value dropped to Rs 8,040 per sq.ft, a decrease of 33%. The value then rose to Rs 12,000 per sq.ft in 2023, followed by a further increase to Rs 13,200 per sq.ft in 2024, which is a rise of 10% from the previous year. There are no figures available for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 378%. The revisions reflect the changing dynamics of property valuation in the area, with the most recent figure indicating a robust valuation compared to previous years.

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 Wallers 1st Lane's 2024 figure above this median.

• Wallajah Salai: Rs 14,300 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 Wallers 1st Lane

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, while the registration fee at 2% would be Rs 2,64,000, totaling 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Wallers 1st Lane?

The Sub Registrar Office that covers Wallers 1st Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded at an officially recognized price.

When a property is sold, the guideline value is used to calculate the applicable duties, which are then payable at the time of registration. This ensures transparency and compliance with local regulations in property transactions.

Frequently asked questions

What is the current guideline value of Wallers 1st Lane?

The current guideline value of Wallers 1st Lane 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 significantly from Rs 2,760 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 378% over the years.

What are the stamp duty and registration fees for property in Wallers 1st Lane?

The stamp duty for a property valued at Rs 1,32,00,000 would be Rs 9,24,000, and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000.

Which Sub Registrar Office covers Wallers 1st Lane?

The Triplicane Sub Registrar Office covers Wallers 1st Lane, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014.

What is the median guideline value for streets in Triplicane?

The median guideline value for streets in Triplicane is Rs 6,600 per sq.ft, with Wallers 1st Lane's 2024 figure of Rs 13,200 per sq.ft being above this median.