Guideline Value for Barracks Road

Barracks Road guideline value

The current guideline value of Barracks Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, falling under the Periamet SRO, and is classified as Residential Class III Type - III.

How the guideline value of Barracks Road has changed

The guideline value for Barracks Road has undergone several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The value then rose sharply to Rs 3,000 per sq.ft in 2023, a 49% increase from the 2017 figure, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that have 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. Barracks Road's 2024 figure is below this median.

• Barracks lane: Rs 2,700 per sq.ft (2024)
• Basin Bridge Road: Rs 7,700 per sq.ft (2024)
• Basin Elephant Gate road: Rs 6,000 per sq.ft (2024)
• Bazaar Lane(Part): Rs 7,000 per sq.ft (2024)
• Beautiful Park Salai: Rs 7,000 per sq.ft (2024)
• Balarkalvi Nilayam Road: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Barracks Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to 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 or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Barracks Road?

The Sub Registrar Office that covers Barracks Road is 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

The guideline value plays a crucial role in the registration process when buying or selling property in Vepery. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is taken into account to ensure that the correct amount of duty is paid. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Barracks Road?

The current guideline value of Barracks Road 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 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 230% over the years.

What is the land classification of Barracks Road?

Barracks Road is classified as Residential Class III Type - III, indicating its designation for residential purposes.

Where can I find the registration office for Barracks Road?

The registration office for Barracks Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Barracks Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,31,000.