Guideline Value for Demellows Road 3rd street(Kaja ahmed sahib street)

Demellows Road 3rd street(Kaja ahmed sahib street) guideline value

The current guideline value for Demellows Road 3rd street (Kaja ahmed sahib street) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, classified as Residential Class IV Type - I.

How the guideline value of Demellows Road 3rd street(Kaja ahmed sahib street) has changed

The guideline value for Demellows Road 3rd street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, reflecting a 33% drop. The value rose again to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase of 8% from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 170%, showcasing a significant change over the years. The 2017 to 2023 period saw a notable increase of 49% as well, indicating fluctuations in the guideline value during these years.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO, with guideline values ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 4,800 per sq.ft, placing Demellows Road 3rd street's 2024 figure below that median.

• 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)
• Demellows Road (Main Road): Rs 6,000 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 3rd street(Kaja ahmed sahib street)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total 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 more details.

Which Sub Registrar Office covers Demellows Road 3rd street(Kaja ahmed sahib street)?

The Sub Registrar Office covering Demellows Road 3rd street (Kaja ahmed sahib street) 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 when buying or selling property in Vepery. It serves as a benchmark for determining the stamp duty and registration fees payable during the registration process. Buyers and sellers must be aware of this value to ensure compliance with the legal requirements.

When a property is registered, the guideline value is used to calculate the applicable fees, which can significantly impact the total cost of the transaction. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value for Demellows Road 3rd street?

The current guideline value for Demellows Road 3rd street (Kaja ahmed sahib street) 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 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 170% over the years.

What are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,00,000, with a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers Demellows Road 3rd street?

The Periamet Sub Registrar Office covers Demellows Road 3rd street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Demellows Road 3rd street?

Demellows Road 3rd street is classified as Residential Class IV Type - I according to the guideline value register.