Guideline Value for Grey Nagar 3rd cross Street

Grey Nagar 3rd cross Street guideline value

The current guideline value of Grey Nagar 3rd cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village and falls under the Periamet SRO, classified as Residential Class IV Type - I.

How the guideline value of Grey Nagar 3rd cross Street has changed

The guideline value for Grey Nagar 3rd cross Street has seen several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which rose significantly to Rs 2,500 per sq.ft in 2012. However, this figure decreased to Rs 1,675 per sq.ft in the 2017 revision. The subsequent 2023 revision marked a notable increase to Rs 2,500 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 2,700 per sq.ft.

Between the revisions, the changes were as follows: from 2007 to 2012, there was a remarkable increase of 317%. However, from 2012 to 2017, the value dropped by 33%. The period from 2017 to 2023 saw a substantial increase of 49%. Finally, from 2023 to 2024, the guideline value increased by 8%. Overall, from 2007 to 2024, the guideline value has risen by 350%. 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 Grey Nagar 3rd cross Street is below this median.

• Grey Nagar 1stStreet: Rs 2,200 per sq.ft (2024)
• Grey Nagar 2ndStreet: Rs 2,700 per sq.ft (2024)
• Grey Nagar 2nd cross Street: Rs 2,700 per sq.ft (2024)
• Grey Nagar 3rdStreet: Rs 2,700 per sq.ft (2024)
• Grey Nagar 4th cross Street: Rs 2,700 per sq.ft (2024)
• Grey Nagar Krishnapillai 3rd street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Grey Nagar 3rd 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, leading to a total of 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 Grey Nagar 3rd cross Street?

The Sub Registrar Office that covers Grey Nagar 3rd cross Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in property transactions in Vepery, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that are payable at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value as it impacts the overall cost of the transaction. Understanding the current guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Grey Nagar 3rd cross Street?

The current guideline value of Grey Nagar 3rd 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 600 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 350% over the years.

What are the stamp duty and registration fees for property in Grey Nagar 3rd cross Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers Grey Nagar 3rd cross Street?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, covers Grey Nagar 3rd cross Street.

What is the land classification for Grey Nagar 3rd cross Street?

Grey Nagar 3rd cross Street is classified as Residential Class IV Type - I.