Guideline Value for Whannels salai

Whannels salai guideline value

The current guideline value of Whannels salai is Rs 18,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, and it is classified as Commercial Special Type - II.

How the guideline value of Whannels salai has changed

The guideline value of Whannels salai has seen significant changes over the years. In the 2002 revision, the value was Rs 1,055 per sq.ft. This increased to Rs 1,163 per sq.ft in the 2003 revision, marking a rise of 10%. The 2007 revision saw a substantial jump to Rs 4,200 per sq.ft, reflecting an increase of 261%. However, in the 2012 revision, the value decreased to Rs 16,500 per sq.ft, which was a decline of 33% from the previous figure. The 2017 revision brought the value up to Rs 11,055 per sq.ft, an increase of 49% from 2012.

In the 2023 revision, the guideline value rose to Rs 16,500 per sq.ft. The most recent 2024 revision has set the current value at Rs 18,100 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1616%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, placing Whannels salai's 2024 figure above this median.

• Water Works Avenue: Rs 8,300 per sq.ft (2024)
• V.R.R.Colony: Rs 3,900 per sq.ft (2024)
• Vivekandan road: Rs 4,900 per sq.ft (2024)
• Vilayattu thidal street: Rs 7,100 per sq.ft (2024)
• Victoria Cresent Road(a)Dr.Cherian Road: Rs 15,000 per sq.ft (2024)
• Venugopal Pillai street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Whannels salai

For a 1,000 sq.ft plot at the current guideline value of Rs 18,100 per sq.ft, the total guideline value would be Rs 1,81,00,000. The stamp duty at 7% would be Rs 12,67,000, and the registration fee at 2% would be Rs 3,62,000, bringing the total to Rs 16,29,000. 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 further calculations.

Which Sub Registrar Office covers Whannels salai?

Whannels salai falls under the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the minimum value for which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Whannels salai?

The current guideline value of Whannels salai is Rs 18,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,055 in 2002 to Rs 18,100 in 2024, reflecting an overall increase of 1616% over this period.

What are the other streets in Egmore with their guideline values?

Other streets in Egmore include Water Works Avenue at Rs 8,300 per sq.ft, V.R.R.Colony at Rs 3,900 per sq.ft, and Victoria Cresent Road(a)Dr.Cherian Road at Rs 15,000 per sq.ft, among others.

Where can I find the Sub Registrar Office for Whannels salai?

The Sub Registrar Office covering Whannels salai is located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Whannels salai?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is an additional 2% of the guideline value.