Guideline Value for Wallers Road

Wallers Road guideline value

The current guideline value of Wallers Road in Triplicane village is Rs 16,500 per sq.ft, effective from 1 July 2024. This street falls under the Triplicane Sub Registrar Office (SRO) and is classified as Commercial Special Type - III.

How the guideline value of Wallers Road has changed

The guideline value for Wallers Road has seen several revisions over the years. In 2012, the value was Rs 15,000 per sq.ft, which decreased to Rs 10,050 per sq.ft in 2017. This was a significant drop of 33%. However, from 2017 to 2023, the value increased by 49% to reach Rs 15,000 per sq.ft. The most recent revision in 2024 has further increased the value by 10%, bringing it to Rs 16,500 per sq.ft.

It is important to note that there are no figures available for Wallers Road in the revisions from 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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, with a median value of Rs 6,600 per sq.ft. Wallers Road's 2024 guideline value is above this median.

• Wallers 2nd Lane: Rs 13,200 per sq.ft (2024)
• Wallers 1st Lane: Rs 13,200 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 Road

For a 1,000 sq.ft plot at the current guideline value of Rs 16,500 per sq.ft, the total guideline value would be Rs 1,65,00,000. The stamp duty at 7% would be Rs 11,55,000, and the registration fee at 2% would be Rs 3,30,000, bringing the total to Rs 14,85,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Wallers Road?

The Sub Registrar Office covering Wallers Road 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 determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the transaction is recorded at a value that reflects the official assessment of the property. This helps maintain transparency and accountability in the real estate market.

Frequently asked questions

What is the current guideline value of Wallers Road?

The current guideline value of Wallers Road is Rs 16,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 15,000 per sq.ft in 2012 to Rs 10,050 per sq.ft in 2017, then increased to Rs 15,000 per sq.ft in 2023, and finally to Rs 16,500 per sq.ft in 2024.

What is the land classification for Wallers Road?

Wallers Road is classified as Commercial Special Type - III, indicating its suitability for commercial activities.

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 Wallers Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 11,55,000.