Guideline Value for Wax Pattanam

Wax Pattanam guideline value

The current guideline value of Wax Pattanam is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village under the Padappai SRO and is classified as Residential Class II Type - I.

How the guideline value of Wax Pattanam has changed

The guideline value for Wax Pattanam has seen several revisions over the years. The earliest recorded value was Rs 175 per sq.ft in 2007, which increased significantly to Rs 1,000 per sq.ft in 2012. However, it then decreased to Rs 670 per sq.ft in 2017. The value rose again to Rs 1,000 per sq.ft in 2023 and is now set at Rs 1,100 per sq.ft from the 2024 revision. There are no figures available for the years 2002 and 2003 for this street.

In terms of percentage changes, the value increased by 471% from 2007 to 2012, then decreased by 33% from 2012 to 2017. Following this, there was a significant increase of 49% from 2017 to 2023, and a further increase of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 529%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Wax Pattanam is below this median.

• Walajabad Main Road: Rs 3,300 per sq.ft (2024)
• Z L M J Avenue: Rs 990 per sq.ft (2024)
• V.M. Garden - S.No.505: Rs 990 per sq.ft (2024)
• V.M.Garden Phase -II: Rs 1,330 per sq.ft (2024)
• V.M. Garden: Rs 1,650 per sq.ft (2024)
• Vishwak Gold City: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Wax Pattanam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Wax Pattanam?

The Sub Registrar Office that covers Wax Pattanam is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Varadarajapuram. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Wax Pattanam?

The current guideline value of Wax Pattanam is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, with various increases and decreases in between.

What are the stamp duty and registration fees for property in Wax Pattanam?

The stamp duty is 7% and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Wax Pattanam?

The Padappai Sub Registrar Office covers Wax Pattanam, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

Where can I find more information about the guideline values in Varadarajapuram?

For more information about the guideline values in Varadarajapuram, you can refer to the Registration Department's guideline value register (TNReginet).