Guideline Value for Whannels Road

Whannels Road guideline value

The current guideline value of Whannels Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet Sub Registrar Office (SRO), and is classified as Residential Special Type - II.

How the guideline value of Whannels Road has changed

Over the years, the guideline value of Whannels Road has seen significant changes. The earliest recorded revision was in 2007, where the value was Rs 4,000 per sq.ft. This figure increased dramatically to Rs 12,000 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 8,040 per sq.ft in 2017, reflecting a decline of 33%. The value further increased to Rs 12,000 per sq.ft in 2023, and finally reached Rs 13,200 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 230%, showcasing the significant changes in property valuation in this area over the years.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. The guideline value of Whannels Road is notably above this median.

• Yennai Karai Street: Rs 4,800 per sq.ft (2024)
• Wall Tax Road: Rs 13,200 per sq.ft (2024)
• VijayaVigneswar Koil Street: Rs 6,000 per sq.ft (2024)
• VeraChetty 3rd street: Rs 4,800 per sq.ft (2024)
• VeraChetty 2nd street: Rs 4,800 per sq.ft (2024)
• Vera Chetty 1st street: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Whannels Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total fees to Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Whannels Road?

The Sub Registrar Office that covers Whannels Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Vepery. It is used to determine the stamp duty and registration fees applicable on the transaction. This value is set by the government and is updated periodically, reflecting the market conditions in the area.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate taxes on property transactions, contributing to local infrastructure and services.

Frequently asked questions

What is the current guideline value of Whannels Road?

The current guideline value of Whannels Road is Rs 13,200 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 4,000 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, with various increases and one decrease in between.

What is the land classification of Whannels Road?

Whannels Road is classified as Residential Special Type - II, indicating its suitability for residential development.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is currently set at 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Whannels Road?

The Periamet Sub Registrar Office handles registrations for Whannels Road, located at 1103, Poonamallee High Road, Chennai-600 003.