Guideline Value for Walltax Road Segment-1 (Central Railway Station to Elephant Gate Signal)

Walltax Road Segment-1 (Central Railway Station to Elephant Gate Signal) guideline value

The current guideline value of Walltax Road Segment-1 (Central Railway Station to Elephant Gate Signal) is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village and falls under the Sowcarpet SRO, classified as Commercial Class I Type - II.

How the guideline value of Walltax Road Segment-1 (Central Railway Station to Elephant Gate Signal) has changed

The guideline value for Walltax Road Segment-1 has undergone several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 8,000 per sq.ft. This was followed by a decrease in the 2017 revision to Rs 5,360 per sq.ft, marking a decline of 33%. In the 2023 revision, the value increased to Rs 8,000 per sq.ft, and the most recent revision in 2024 saw a further increase to Rs 8,800 per sq.ft, reflecting a 10% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The 2023 revision saw a significant increase of 49% from the 2017 figure. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with 2024 guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Walltax Road Segment-1's 2024 figure above this median.

• Walltax Road Segment-2: Rs 6,000 per sq.ft (2024)
• Washermen Lane: Rs 4,900 per sq.ft (2024)
• Vinayaga Mudali Street: Rs 6,000 per sq.ft (2024)
• Vinayaga Maistry Street: Rs 6,600 per sq.ft (2024)
• Venkatrayar Street: Rs 4,900 per sq.ft (2024)
• Venkatraman Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Walltax Road Segment-1 (Central Railway Station to Elephant Gate Signal)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total cost for these fees Rs 7,92,000. 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 further calculations.

Which Sub Registrar Office covers Walltax Road Segment-1 (Central Railway Station to Elephant Gate Signal)?

The Sub Registrar Office that covers Walltax Road Segment-1 is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Muthiyalpet. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the government records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Walltax Road Segment-1?

The current guideline value of Walltax Road Segment-1 (Central Railway Station to Elephant Gate Signal) is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 in 2012 to Rs 5,360 in 2017, then back to Rs 8,000 in 2023, and finally to Rs 8,800 in 2024. This reflects various increases and decreases over the years.

What is the median guideline value in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, with Walltax Road Segment-1's 2024 value being above this median.

What are the stamp duty and registration fees for properties on Walltax Road Segment-1?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which office handles registrations for Walltax Road Segment-1?

The Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, handles registrations for Walltax Road Segment-1.