Guideline Value for Ashirvathapuram 5th strret

Ashirvathapuram 5th strret guideline value

The current guideline value for Ashirvathapuram 5th strret is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet Sub Registrar Office (SRO), and it falls under the Residential Class III Type - III land classification.

How the guideline value of Ashirvathapuram 5th strret has changed

The guideline value for Ashirvathapuram 5th strret has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,000 per sq.ft in 2023 and finally reached Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register does not have figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The changes between the revisions illustrate the fluctuations in property valuation in this area, with the most notable increase occurring between 2017 and 2023, where the value surged by 49%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 4,800 per sq.ft, placing Ashirvathapuram 5th strret's 2024 figure below that median.

• Ashirvathapuram 4nd strret: Rs 3,300 per sq.ft (2024)
• Ashirvathapuram 6thstrret: Rs 3,300 per sq.ft (2024)
• Ashirvathapuram 3rd strret: Rs 3,300 per sq.ft (2024)
• Ashirvathapuram 2nd strret: Rs 3,300 per sq.ft (2024)
• Ashirvathapuram 1st street: Rs 3,300 per sq.ft (2024)
• Arunchala Pillai Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ashirvathapuram 5th strret

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashirvathapuram 5th strret?

The Ashirvathapuram 5th strret is covered by 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 Vepery

When buying or selling property in Vepery, the guideline value plays a crucial role in determining the registration fees and stamp duty applicable to the transaction. The guideline value is used to assess the minimum value for property transactions, ensuring that the government receives the appropriate taxes based on this valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. Understanding this value can help in making informed decisions during property transactions in the area.

Frequently asked questions

What is the current guideline value for Ashirvathapuram 5th strret?

The current guideline value for Ashirvathapuram 5th strret is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What are the other streets in Vepery with the same guideline value?

Other streets in Vepery with the same guideline value of Rs 3,300 per sq.ft in 2024 include Ashirvathapuram 1st, 2nd, 3rd, 4th, and 6th strrets.

Where is the Periamet Sub Registrar Office located?

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

How is stamp duty calculated for properties in Ashirvathapuram 5th strret?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.