Guideline Value for Washermen Lane

Washermen Lane guideline value

The current guideline value of Washermen Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Special Type - III.

How the guideline value of Washermen Lane has changed

The guideline value for Washermen Lane has undergone several revisions over the years. In 2007, the value was Rs 1,600 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, it then decreased to Rs 3,015 per sq.ft in 2017. Following this, the value saw a substantial rise to Rs 4,500 per sq.ft in 2023, and most recently, it has increased to Rs 4,900 per sq.ft in 2024.

Between the revisions, the changes were notable. From 2007 to 2012, there was an increase of 181%. However, this was followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects an increase of 9%. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO with a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Washermen Lane's 2024 figure above this median.

• Walltax Road Segment-2 (Elephant Gate Signal to Basin Bridge Road): Rs 6,000 per sq.ft (2024)
• Walltax Road Segment-1 (Central Railway Station to Elephant Gate Signal): Rs 8,800 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 Washermen Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty, charged at 7%, would be Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. The total fees together would amount to Rs 4,41,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Washermen Lane?

The Sub Registrar Office that covers Washermen Lane 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 a critical factor in the registration process when buying or selling property in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is assessed to ensure that the transaction is in line with the prevailing rates in the area. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Washermen Lane?

The current guideline value of Washermen Lane is Rs 4,900 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 1,600 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the land classification for Washermen Lane?

Washermen Lane is classified as Residential Special Type - III under the guideline value register.

How does the guideline value affect stamp duty?

The guideline value is used to determine the stamp duty and registration fees during property transactions. The duty is charged on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Washermen Lane?

The Sowcarpet Sub Registrar Office, which covers Washermen Lane, is located at No.11, Davidson Street, Sowcarpet, Chennai-01.