Guideline Value for Decaster Road(Mainroad)

Decaster Road(Mainroad) guideline value

The current guideline value of Decaster Road(Mainroad) is Rs 4,800 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 II Type - II.

How the guideline value of Decaster Road(Mainroad) has changed

The guideline value for Decaster Road(Mainroad) has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 2,000 per sq.ft. This increased to Rs 4,500 per sq.ft in 2012, a rise of 125%. However, it then decreased to Rs 3,015 per sq.ft in 2017, marking a decline of 33%. The value continued to rise to Rs 4,500 per sq.ft in 2023, reflecting a significant increase of 49% from the previous revision. The latest revision in 2024 set the guideline value at Rs 4,800 per sq.ft, which is a 7% increase from 2023.

It is important to note that 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 140%.

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, which is the same as the current value for Decaster Road(Mainroad).

• Decaster Road 2nd lane: Rs 2,700 per sq.ft (2024)
• Decastor Salai 2nd Cross street: Rs 2,700 per sq.ft (2024)
• Decaster Road 1st cross street: Rs 2,700 per sq.ft (2024)
• Demellows Road 1st 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(Mainroad)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,800 per sq.ft, the total guideline value amounts to Rs 48,00,000. The stamp duty at 7% would be Rs 3,36,000, and the registration fee at 2% would be Rs 96,000, bringing the total fees to Rs 4,32,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Decaster Road(Mainroad)?

The Sub Registrar Office that covers Decaster Road(Mainroad) is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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 that are payable at the time of registration.

When a property is sold, the buyer must ensure that the sale price is either equal to or higher than the guideline value. This ensures that the appropriate taxes are calculated based on the higher of the two values, thus complying with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Decaster Road(Mainroad)?

The current guideline value of Decaster Road(Mainroad) is Rs 4,800 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 4,800 per sq.ft in 2024, reflecting an overall increase of 140% over the years.

What are the stamp duty and registration fees for a property on Decaster Road(Mainroad)?

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty is Rs 3,36,000 and the registration fee is Rs 96,000, totaling Rs 4,32,000.

Which office handles registrations for Decaster Road(Mainroad)?

The Periamet Sub Registrar Office handles registrations for Decaster Road(Mainroad), located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Decaster Road(Mainroad)?

The land classification for Decaster Road(Mainroad) is Residential Class II Type - II.