Guideline Value for Welders Street

Welders Street guideline value

The current guideline value of Welders Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Mixed Type - II land.

How the guideline value of Welders Street has changed

The guideline value of Welders Street has seen significant changes over the years. In the 2007 revision, the value was Rs 2,760 per sq.ft, which increased to Rs 7,000 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 raised the value to Rs 7,700 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 179%. Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

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. The median value for these streets is Rs 6,600 per sq.ft, placing Welders Street's 2024 figure above this median.

• Weavers Street: Rs 6,600 per sq.ft (2024)
• West Cott Road: Rs 13,200 per sq.ft (2024)
• Wallers Road: Rs 16,500 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Welders Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total cost to Rs 6,93,000. The duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Welders Street?

The Sub Registrar Office that covers Welders Street 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 minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for legal purposes.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Welders Street?

The current guideline value of Welders Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 2,760 per sq.ft to Rs 7,700 per sq.ft in 2024, marking an overall increase of 179%.

Are there any years with no guideline value for Welders Street?

Yes, the register has no figures for Welders Street for the years 2002, 2003, and 2017.

What is the stamp duty rate for properties in Triplicane?

The stamp duty rate for properties in Triplicane is 7%. This is calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Welders Street?

The Sub Registrar Office for Welders Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more details through the provided link.