Guideline Value for Boopathi Street (Vetri Nagar)

Boopathi Street (Vetri Nagar) guideline value

The current guideline value of Boopathi Street (Vetri Nagar) is Rs 3,301 per sq.ft. This street is located in Peravallur village, which falls under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Boopathi Street (Vetri Nagar) has changed

The guideline value for Boopathi Street (Vetri Nagar) has undergone several revisions over the years. In 2002, the guideline value was Rs 325 per sq.ft, which increased to Rs 449 per sq.ft in 2003, marking a rise of 38%. The value saw significant growth to Rs 800 per sq.ft in 2007, a change of 275%. However, it dropped to Rs 3,000 per sq.ft in 2012, reflecting a decrease of 33%. The value then increased to Rs 2,010 per sq.ft in 2017, which was a 49% increase. The most recent revision in 2023 set the value at Rs 3,000 per sq.ft, followed by the current 2024 revision at Rs 3,301 per sq.ft, showing an increase of 10%.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 916%.

Guideline values in Peravallur

In Peravallur village, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is the same as the guideline value for Boopathi Street (Vetri Nagar).

• Building Society Land Acquisation Road: Rs 2,700 per sq.ft (2024)
• Chakarapani Thottam: Rs 2,700 per sq.ft (2024)
• Chandran Lane (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Chandran Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Chandrasekaran Salai: Rs 2,700 per sq.ft (2024)
• Chelliamman Colony 1st Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Boopathi Street (Vetri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the guideline value totals Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total to Rs 2,97,090. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Boopathi Street (Vetri Nagar)?

The Sub Registrar Office that covers Boopathi Street (Vetri Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Peravallur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the state receives appropriate stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures transparency and helps prevent undervaluation during property transactions.

Frequently asked questions

What is the current guideline value of Boopathi Street (Vetri Nagar)?

The current guideline value of Boopathi Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 325 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, showing an overall increase of 916% over this period.

What is the land classification for Boopathi Street (Vetri Nagar)?

Boopathi Street (Vetri Nagar) is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles property registrations for Boopathi Street (Vetri Nagar).

How is the stamp duty calculated for properties in Boopathi Street (Vetri Nagar)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 33,01,000, the stamp duty would be Rs 2,31,070 at a rate of 7%.