Guideline Value for Woods Road

Woods Road guideline value

The current guideline value of Woods Road is Rs 15,400 per sq.ft, effective from 1 July 2024. This road is located in Triplicane village, under the Triplicane SRO, and is classified as Commercial Special Type - II.

How the guideline value of Woods Road has changed

The guideline value for Woods Road has seen significant changes over the years. In 2002, the value was Rs 1,680 per sq.ft, which increased to Rs 1,843 per sq.ft in 2003, marking a 10% rise. The subsequent revisions showed a dramatic increase, with the value jumping to Rs 5,430 per sq.ft in 2007, representing a 195% increase from the previous figure. The value remained unchanged at Rs 14,000 per sq.ft in both the 2012 and 2023 revisions.

With the latest revision in 2024, the guideline value surged to Rs 15,400 per sq.ft, reflecting a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 817%.

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, with a median value of Rs 6,600 per sq.ft. Woods Road's 2024 figure is above this median.

• Whites Road: Rs 15,400 per sq.ft (2024)
• Whites Lane: Rs 13,200 per sq.ft (2024)
• West Cott Road: Rs 13,200 per sq.ft (2024)
• Yusuff Lane: Rs 6,600 per sq.ft (2024)
• Welders Street: Rs 7,700 per sq.ft (2024)
• Weavers Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Woods Road

For a 1,000 sq.ft plot at the current guideline value of Rs 15,400 per sq.ft, the total guideline value amounts to Rs 1,54,00,000. The stamp duty at 7% would be Rs 10,78,000, and the registration fee at 2% would be Rs 3,08,000, bringing the total fees to Rs 13,86,000. It is important to note that 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 Woods Road?

The Sub Registrar Office that covers Woods Road is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when registering property transactions in Triplicane. It serves as a reference for calculating the stamp duty and registration fees, which are mandatory during the buying or selling process.

When a property is sold, the guideline value helps determine the official value for registration purposes, ensuring that the transaction is documented accurately. This process is essential for maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Woods Road?

The current guideline value of Woods Road is Rs 15,400 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 1,680 per sq.ft in 2002 to Rs 15,400 per sq.ft in 2024, marking an overall increase of 817%.

What is the land classification for Woods Road?

Woods Road is classified as Commercial Special Type - II, which influences its guideline value and potential uses.

Where is the Sub Registrar Office for Woods Road located?

The Triplicane Sub Registrar Office is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties on Woods Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 1,54,00,000, the stamp duty would be Rs 10,78,000 at 7%.