Guideline Value for Wallers 2nd Lane

Wallers 2nd Lane guideline value

The current guideline value of Wallers 2nd 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 2nd Lane has changed

The guideline value for Wallers 2nd Lane has seen significant changes over the years. In the 2007 revision, the value was Rs 2,760 per sq.ft, which increased dramatically to Rs 12,000 per sq.ft in 2012, marking a 335% rise. However, by 2017, the value dropped to Rs 8,040 per sq.ft, a decline of 33%. The 2023 revision set the value at Rs 12,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 13,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 378%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a guideline value for 2024, ranging from Rs 2,700 to Rs 20,900 per sq.ft, with a median value of Rs 6,600 per sq.ft. Wallers 2nd Lane's 2024 guideline value is above this median.

• Wallers 1st Lane: Rs 13,200 per sq.ft (2024)
• Wallers Road: Rs 16,500 per sq.ft (2024)
• Wallajah Salai: Rs 14,300 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 2nd 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, and the registration fee at 2% would be Rs 2,64,000, bringing the total to Rs 11,88,000. 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 more details.

Which Sub Registrar Office covers Wallers 2nd Lane?

The Sub Registrar Office that covers Wallers 2nd 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 is a crucial factor in the registration process when buying or selling property in Triplicane. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during property transactions.

When a property is sold, the higher of the guideline value and the actual sale price is considered for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Wallers 2nd Lane?

The current guideline value of Wallers 2nd 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 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 Wallers 2nd Lane?

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

Which office handles registrations in Triplicane?

The Triplicane Sub Registrar Office handles registrations in Triplicane, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014.

What is the significance of the guideline value?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the correct amounts are charged based on the property's value.