Guideline Value for Flower Mills Road 2nd cross street

Flower Mills Road 2nd cross street guideline value

The current guideline value of Flower Mills Road 2nd cross street 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 Flower Mills Road 2nd cross street has changed

In the 2007 revision, the guideline value was Rs 2,000 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2012 revision, marking a 25% rise. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft, which is a decline of 33%. The value then increased significantly to Rs 2,500 per sq.ft in the 2023 revision, reflecting a 49% rise. The current guideline value is Rs 2,700 per sq.ft as per the 2024 revision, showing an 8% increase from the previous year.

The register has no figures for the revisions in 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 35%.

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 of Flower Mills Road 2nd cross street is below this median.

• Flower Mills Road 1st cross street: Rs 2,700 per sq.ft (2024)
• Flower Mills Road: Rs 2,700 per sq.ft (2024)
• E.V.K.Sampth lane: Rs 14,300 per sq.ft (2024)
• E.V.K.Sampath Road (or) Rundalls Road: Rs 14,300 per sq.ft (2024)
• Gandhi Irwin Road: Rs 22,000 per sq.ft (2024)
• Ellavaram Veerasamy Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Flower Mills Road 2nd cross street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, totaling Rs 2,43,000. 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 Flower Mills Road 2nd cross street?

The Flower Mills Road 2nd cross street is covered by 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, as it determines the stamp duty and registration fees applicable at the time of sale. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the registration office uses the guideline value to calculate the necessary fees. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Flower Mills Road 2nd cross street?

The current guideline value of Flower Mills Road 2nd cross 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 seen several changes: it was Rs 2,000 per sq.ft in 2007, increased to Rs 2,500 in 2012, dropped to Rs 1,675 in 2017, rose to Rs 2,500 in 2023, and is now Rs 2,700 in 2024.

What is the land classification for Flower Mills Road 2nd cross street?

Flower Mills Road 2nd cross street is classified as Residential Class IV Type - I.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 2,43,000, based on the current guideline value of Rs 27,00,000.

Which office handles registrations for Flower Mills Road 2nd cross street?

The Periamet Sub Registrar Office at 1103, Poonamallee High Road, Chennai-600 003, handles registrations for Flower Mills Road 2nd cross street.