Guideline Value for Ellavaram Veerasamy Street

Ellavaram Veerasamy Street guideline value

The current guideline value of Ellavaram Veerasamy Street is Rs 9,900 per sq.ft. This street is located in Vepery village, under the Periamet SRO. The land classification for this area is Commercial Special Type - V.

How the guideline value of Ellavaram Veerasamy Street has changed

The guideline value for Ellavaram Veerasamy Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,200 per sq.ft. This increased significantly to Rs 9,000 per sq.ft in the 2012 revision, marking a 650% rise. However, in the 2017 revision, the value decreased to Rs 6,030 per sq.ft, reflecting a 33% drop. The 2023 revision brought the value back up to Rs 9,000 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 9,900 per sq.ft, a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 725%. Notably, there are no figures available for the years 2002 and 2003 in the register 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. The median value for these streets is Rs 4,800 per sq.ft, placing Ellavaram Veerasamy Street's 2024 guideline value above this median.

• Elephant Gate Road Slum Clearnace: Rs 2,700 per sq.ft (2024)
• Elephant Gate pada salai: Rs 4,800 per sq.ft (2024)
• Ekambara Kumaragurusamy Street: Rs 13,000 per sq.ft (2024)
• E.V.K.Sampath Road (or) Rundalls Road: Rs 14,300 per sq.ft (2024)
• E.V.K.Sampth lane: Rs 14,300 per sq.ft (2024)
• Flower Mills Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ellavaram Veerasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would amount to Rs 1,98,000, making the total Rs 8,91,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ellavaram Veerasamy Street?

The Sub Registrar Office that covers Ellavaram Veerasamy Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Vepery

The guideline value is a crucial factor during the registration of property transactions in Vepery. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid, ensuring that the transaction complies with government regulations.

When buying or selling property, it is essential to consider the guideline value, as it can influence the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly affect the total expenses involved in the property transfer.

Frequently asked questions

What is the current guideline value of Ellavaram Veerasamy Street?

The current guideline value of Ellavaram Veerasamy Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 725% over the years.

What is the land classification for Ellavaram Veerasamy Street?

Ellavaram Veerasamy Street is classified as Commercial Special Type - V, which indicates its intended use for commercial activities.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Ellavaram Veerasamy Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Vepery?

Stamp duty for properties in Vepery is calculated based on the higher of the guideline value or the sale price. The current rate for stamp duty is 7%, along with a registration fee of 2%.