Guideline Value for Beautiful Park Salai

Beautiful Park Salai guideline value

The current guideline value of Beautiful Park Salai is Rs 7,000 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Commercial Class I Type - III.

How the guideline value of Beautiful Park Salai has changed

The guideline value for Beautiful Park Salai has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 2,000 per sq.ft. This increased significantly to Rs 6,400 per sq.ft in 2012, marking a rise of 220%. However, it then decreased to Rs 4,288 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 6,400 per sq.ft in 2023, followed by the latest revision to Rs 7,000 per sq.ft in 2024, reflecting a growth of 9%.

Overall, from 2007 to 2024, the guideline value has increased by 250%. Notably, there are no figures available for the years 2002 and 2003 in the register 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. The median value for these streets is Rs 4,800 per sq.ft, making the 2024 figure for Beautiful Park Salai above that median.

• Bazaar Lane(Part): Rs 7,000 per sq.ft (2024)
• Basin Elephant Gate road: Rs 6,000 per sq.ft (2024)
• Basin Bridge Road: Rs 7,700 per sq.ft (2024)
• Barracks Road: Rs 3,300 per sq.ft (2024)
• Barracks lane: Rs 2,700 per sq.ft (2024)
• Balarkalvi Nilayam Road: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Beautiful Park Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 7,000 per sq.ft, the total guideline value amounts to Rs 70,00,000. The stamp duty at 7% would be Rs 4,90,000, and the registration fee at 2% would be Rs 1,40,000. Together, these fees amount to Rs 6,30,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Beautiful Park Salai?

The Sub Registrar Office that covers Beautiful Park Salai 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 is a crucial factor in the registration process when buying or selling property in Vepery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government collects appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Beautiful Park Salai?

The current guideline value of Beautiful Park Salai is Rs 7,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 7,000 per sq.ft in 2024, reflecting a total increase of 250% over the years.

What are the stamp duty and registration fees for properties in Beautiful Park Salai?

For a property valued at Rs 70,00,000, the stamp duty would be Rs 4,90,000 and the registration fee would be Rs 1,40,000, totaling Rs 6,30,000.

Which Sub Registrar Office is responsible for Beautiful Park Salai?

The Periamet Sub Registrar Office is responsible for Beautiful Park Salai, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification of Beautiful Park Salai?

Beautiful Park Salai is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.