Guideline Value for Decaster Road 2nd lane

Decaster Road 2nd lane guideline value

The current guideline value for Decaster Road 2nd lane is Rs 2,700 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 IV Type - I.

How the guideline value of Decaster Road 2nd lane has changed

The guideline value for Decaster Road 2nd lane has undergone several revisions over the years. The earliest recorded value was Rs 1,000 per sq.ft in 2007, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, this value decreased to Rs 1,675 per sq.ft in 2017, a reduction of 33%. The value then saw a substantial increase to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase.

From 2017 to 2023, the guideline value rose by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a total increase of 170%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery village, there are 290 streets under the Periamet SRO with 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 Decaster Road 2nd lane's 2024 value below this median.

• Decaster Road 1st cross street: Rs 2,700 per sq.ft (2024)
• Decaster Road(Mainroad): Rs 4,800 per sq.ft (2024)
• Decastor Salai 2nd Cross street: Rs 2,700 per sq.ft (2024)
• Demellows Road1st lane: Rs 2,700 per sq.ft (2024)
• Demellows Road 2nd lane (Chinna thambi Street): Rs 2,700 per sq.ft (2024)
• Demellows Road 3rd street(Kaja ahmed sahib street): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Decaster Road 2nd lane

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value is 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, totaling Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Decaster Road 2nd lane?

The Sub Registrar Office that covers Decaster Road 2nd lane 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 serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value for Decaster Road 2nd lane?

The current guideline value for Decaster Road 2nd lane 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 seen several revisions, increasing from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 170%.

What is the median guideline value in Vepery?

The median guideline value for streets in Vepery is Rs 4,800 per sq.ft, with Decaster Road 2nd lane's value being below this median.

What are the stamp duty rates for property in Decaster Road 2nd lane?

The stamp duty rate for property transactions in Decaster Road 2nd lane is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Decaster Road 2nd lane located?

The Sub Registrar Office for Decaster Road 2nd lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.