Guideline Value for Flower Mills Road

Flower Mills Road guideline value

The current guideline value of Flower Mills Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This road 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 has changed

Over the years, the guideline value of Flower Mills Road has seen various revisions. The 2007 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,500 per sq.ft in the 2012 revision, marking a decline of 17%. The value further decreased to Rs 1,675 per sq.ft in 2017, reflecting a significant drop of 33%. However, the subsequent revisions saw an increase, with the 2023 revision raising the value to Rs 2,500 per sq.ft, a rise of 49%. The latest revision in 2024 has set the value at Rs 2,700 per sq.ft, an increase of 8% from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has decreased by 10%.

Guideline values in Vepery

In Vepery village, 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 value for these streets is Rs 4,800 per sq.ft, indicating that the guideline value of Flower Mills Road is below this median.

• Flower Mills Road 1st cross street: 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 Road

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 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 Flower Mills Road?

The Sub Registrar Office that covers Flower Mills Road 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 buying or selling property in Vepery, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the property transaction process.

Frequently asked questions

What is the current guideline value of Flower Mills Road?

The current guideline value of Flower Mills Road is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value of Flower Mills Road changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall decrease of 10%. The value saw significant fluctuations, including a rise of 49% from 2017 to 2023.

What is the land classification of Flower Mills Road?

Flower Mills Road is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.

Where is the Sub Registrar Office for Flower Mills Road located?

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

How is the stamp duty calculated for properties in Flower Mills Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.