Guideline Value for Demellows Road (Main Road)

Demellows Road (Main Road) guideline value

The current guideline value of Demellows Road (Main Road) is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, classified as Residential Class II Type - I.

How the guideline value of Demellows Road (Main Road) has changed

The guideline value for Demellows Road (Main Road) has changed significantly over the years. In 2007, the guideline value was Rs 2,000 per sq.ft. This increased to Rs 5,500 per sq.ft in 2012, marking a substantial rise of 175%. However, it decreased to Rs 3,685 per sq.ft in 2017, reflecting a drop of 33%. The value then surged to Rs 5,500 per sq.ft in 2023, and currently stands at Rs 6,000 per sq.ft from the 2024 revision, which is a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 200%. Notably, there are no figures available for the revisions in 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, with a median value of Rs 4,800 per sq.ft. The guideline value for Demellows Road (Main Road) is above this median.

• Demellows Road 3rd street (Kaja ahmed sahib street): Rs 2,700 per sq.ft (2024)
• Demellows Road 2nd lane (Chinna thambi Street): Rs 2,700 per sq.ft (2024)
• Demellows Road 1st lane: Rs 2,700 per sq.ft (2024)
• Depot street: Rs 6,000 per sq.ft (2024)
• Decastor Salai 2nd Cross street: Rs 2,700 per sq.ft (2024)
• Decaster Road (Mainroad): Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Demellows Road (Main Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. 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 details.

Which Sub Registrar Office covers Demellows Road (Main Road)?

The Sub Registrar Office that covers Demellows Road (Main Road) 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 property transactions in Vepery. It serves as a benchmark for determining the amount of stamp duty and registration fees payable when registering property sales. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the transaction process.

When a property is sold, the guideline value helps in assessing the official value of the property, which is essential for taxation purposes. It ensures that the state receives the appropriate revenue from property transactions, reflecting the established values for different areas.

Frequently asked questions

What is the current guideline value of Demellows Road (Main Road)?

The current guideline value of Demellows Road (Main Road) is Rs 6,000 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 6,000 per sq.ft in 2024, showing an overall increase of 200% over this period.

What is the classification of land on Demellows Road (Main Road)?

Demellows Road (Main Road) is classified as Residential Class II Type - I under the Periamet SRO.

Where is the Sub Registrar Office for Demellows Road (Main Road)?

The Sub Registrar Office for Demellows Road (Main Road) is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties on Demellows Road (Main Road)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 60,00,000, the stamp duty at 7% would be Rs 4,20,000.