Guideline Value for Atkinson Road 3rd Street

Atkinson Road 3rd Street guideline value

The current guideline value of Atkinson Road 3rd Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, classified as Residential Class I Type - II.

How the guideline value of Atkinson Road 3rd Street has changed

Over the years, the guideline value of Atkinson Road 3rd Street has seen significant changes. The earliest recorded figure is from 2007, at Rs 1,800 per sq.ft. This figure increased dramatically to Rs 10,500 per sq.ft in 2012, marking a rise of 483%. However, in 2017, the value decreased to Rs 7,035 per sq.ft, a reduction of 33%. The guideline value then rose again to Rs 10,500 per sq.ft in 2023, which is a 49% increase from 2017. The latest revision in 2024 has set the value at Rs 11,500 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 539%.

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. The median value for these streets is Rs 4,800 per sq.ft, placing Atkinson Road 3rd Street's value above this median.

• Atkinson Road 1st street: Rs 11,500 per sq.ft (2024)
• Atkinson Road 4th Street: Rs 11,500 per sq.ft (2024)
• Atkinson Road: Rs 11,500 per sq.ft (2024)
• Atkinson Road 5th Street: Rs 11,500 per sq.ft (2024)
• Atinosn Road 2nd Street: Rs 11,500 per sq.ft (2024)
• Atkinson Road 6th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Atkinson Road 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value amounts to Rs 1,15,00,000. The stamp duty at 7% would be Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total costs together to Rs 10,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Atkinson Road 3rd Street?

The Sub Registrar Office that covers Atkinson Road 3rd Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vepery. It serves as a benchmark for determining the minimum value at which property transactions can be registered. This ensures that the government receives appropriate revenue from property transactions through stamp duty and registration fees.

When a buyer or seller engages in a property transaction, the guideline value is assessed to determine the applicable stamp duty and registration fees. This process helps maintain transparency and standardization in property dealings, ensuring that both parties are aware of the financial implications of their transaction.

Frequently asked questions

What is the current guideline value of Atkinson Road 3rd Street?

The current guideline value of Atkinson Road 3rd Street is Rs 11,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,800 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, which is an overall increase of 539%.

What is the median guideline value for streets in Vepery?

The median guideline value for streets in Vepery is Rs 4,800 per sq.ft, with Atkinson Road 3rd Street's value being above this median.

What are the stamp duty and registration fees for property in Atkinson Road 3rd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 1,15,00,000, with stamp duty at Rs 8,05,000 and registration fees at Rs 2,30,000, totaling Rs 10,35,000.

Which office handles property registrations for Atkinson Road 3rd Street?

The Periamet Sub Registrar Office handles property registrations for Atkinson Road 3rd Street, located at 1103, Poonamallee High Road, Chennai-600 003.