Guideline Value for Bogipalayam New 3rdlane

Bogipalayam New 3rdlane guideline value

The current guideline value of Bogipalayam New 3rdlane is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

How the guideline value of Bogipalayam New 3rdlane has changed

The guideline value for Bogipalayam New 3rdlane has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 600 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 317%. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and most recently to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 350%. It is important to note that there are no recorded 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. The median value for these streets is Rs 4,800 per sq.ft, placing Bogipalayam New 3rdlane's 2024 figure below that median.

• Bogipalayam New 2nd lane: Rs 2,700 per sq.ft (2024)
• Bogipalayam Old lane: Rs 2,700 per sq.ft (2024)
• Bogipalayam New 1st lane: Rs 2,700 per sq.ft (2024)
• Brithapet Salai: Rs 11,500 per sq.ft (2024)
• Canal Karai Salai: Rs 4,800 per sq.ft (2024)
• Chengalvarayan Street: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bogipalayam New 3rdlane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Bogipalayam New 3rdlane?

The Bogipalayam New 3rdlane falls under the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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 stamp duty and registration fees that are applicable to the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is assessed to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and fairly in the official records, providing a transparent process for both parties involved.

Frequently asked questions

What is the current guideline value of Bogipalayam New 3rdlane?

The current guideline value of Bogipalayam New 3rdlane is Rs 2,700 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 2,700 per sq.ft in 2024, reflecting an overall increase of 350% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office is responsible for Bogipalayam New 3rdlane?

The Periamet Sub Registrar Office covers Bogipalayam New 3rdlane, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Bogipalayam New 3rdlane?

The land classification for Bogipalayam New 3rdlane is Residential Class IV Type - I, indicating its suitability for residential development.