Guideline Value for Atkinson Road 5thStreet

Atkinson Road 5thStreet guideline value

The current guideline value for Atkinson Road 5th Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Residential Class I Type - II.

How the guideline value of Atkinson Road 5thStreet has changed

The guideline value for Atkinson Road 5th Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased significantly to Rs 10,500 per sq.ft in 2012. However, this figure dropped to Rs 7,035 per sq.ft in 2017. The 2023 revision set the value at Rs 10,500 per sq.ft, and the latest 2024 revision has increased it to Rs 11,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 539%. The changes between revisions are as follows: a 483% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

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. Atkinson Road 5th Street's 2024 guideline value is above this median.

• Atkinson Road 4th Street: Rs 11,500 per sq.ft (2024)
• Atkinson Road 6th Street: Rs 11,500 per sq.ft (2024)
• Atkinson Road 3rd Street: Rs 11,500 per sq.ft (2024)
• Atkinson Road 1st street: Rs 11,500 per sq.ft (2024)
• Atkinson Road: Rs 11,500 per sq.ft (2024)
• Atinosn Road 2nd Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Atkinson Road 5thStreet

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, resulting in a total of 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Atkinson Road 5thStreet?

The Sub Registrar Office that covers Atkinson Road 5th Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For further assistance, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Vepery. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it can impact the overall cost of the transaction. Understanding these values can help in making informed decisions during property dealings in the area.

Frequently asked questions

What is the current guideline value of Atkinson Road 5th Street?

The current guideline value of Atkinson Road 5th Street is Rs 11,500 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 1,800 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, marking an overall increase of 539% over this period.

What is the land classification for Atkinson Road 5th Street?

Atkinson Road 5th Street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Atkinson Road 5th Street?

The Sub Registrar Office for Atkinson Road 5th Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Atkinson Road 5th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 1,15,00,000, the stamp duty would be calculated accordingly, along with the registration fee.