Guideline Value for Flower Mills Road1st cross street

Flower Mills Road1st cross street guideline value

The current guideline value for Flower Mills Road1st 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 the land classification is Residential Class IV Type - I.

How the guideline value of Flower Mills Road1st cross street has changed

The guideline value for Flower Mills Road1st cross street has seen several revisions over the years. In the 2007 revision, the value was Rs 2,000 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in the 2017 revision. The value then rose significantly to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 2,700 per sq.ft. The changes between these revisions include a decrease of 33% from 2012 to 2017, followed by a substantial increase of 49% from 2017 to 2023, and an 8% increase from 2023 to 2024.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 figure, 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 for Flower Mills Road1st cross street is below this median.

• Flower Mills Road: Rs 2,700 per sq.ft (2024)
• Flower Mills Road 2nd cross street: 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 Road1st cross street

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 to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Flower Mills Road1st cross street?

The Sub Registrar Office that covers Flower Mills Road1st cross 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 plays a crucial role in property transactions in Vepery. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

At the time of registration, the guideline value is referenced to calculate the fees, which are charged based on the higher of the guideline value or the sale price. This process helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value for Flower Mills Road1st cross street?

The current guideline value for Flower Mills Road1st 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 changed from Rs 2,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 35% over the years.

What are the stamp duty and registration fees for property in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs amount to Rs 2,43,000.

Which office handles property registrations for Flower Mills Road1st cross street?

The Periamet Sub Registrar Office handles property registrations for Flower Mills Road1st cross street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Flower Mills Road1st cross street?

The land classification for Flower Mills Road1st cross street is Residential Class IV Type - I.