Guideline Value for Demellows Road1st lane

Demellows Road1st lane guideline value

The current guideline value for Demellows Road1st 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 Demellows Road1st lane has changed

The guideline value for Demellows Road1st lane 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. However, this value decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, which was then increased to Rs 2,700 per sq.ft in 2024.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 150%. However, it then decreased by 33% from 2012 to 2017. The value rose by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects an increase of 8%. Overall, from 2007 to 2024, the guideline value has increased by 170%. The register has no figures for the years 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 Road1st lane is below this median.

• 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)
• 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 Road1st lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to 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, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Demellows Road1st lane?

The Sub Registrar Office that covers Demellows Road1st lane 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 when registering property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property transaction process.

When a property is bought or sold, the guideline value is used to assess the applicable fees, ensuring that the transaction is recorded accurately. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Demellows Road1st lane?

The current guideline value for Demellows Road1st 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 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 this period.

What is the land classification for Demellows Road1st lane?

Demellows Road1st lane is classified as Residential Class IV Type - I.

What are the stamp duty rates for property in Demellows Road1st lane?

The stamp duty rate for property in Demellows Road1st lane is 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Demellows Road1st lane located?

The Sub Registrar Office for Demellows Road1st lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.