Guideline Value for Grey Nagar 3rdStreet

Grey Nagar 3rdStreet guideline value

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

How the guideline value of Grey Nagar 3rdStreet has changed

The guideline value for Grey Nagar 3rdStreet has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,500 per sq.ft by 2012. However, by 2017, it dropped to Rs 1,675 per sq.ft. The value then rose to Rs 2,500 per sq.ft in 2023, and currently, it stands at Rs 2,700 per sq.ft as of the 2024 revision, marking an increase of 8% from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. The overall change from 2007 to 2024 reflects a substantial increase of 350% in the guideline value per sq.ft.

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, indicating that Grey Nagar 3rdStreet's current value is below this median.

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

Stamp duty and registration fee for property in Grey Nagar 3rdStreet

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 cost for these fees to Rs 2,43,000. It is important to note that 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 3rdStreet?

The Sub Registrar Office that covers Grey Nagar 3rdStreet 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 critical factor during the registration of property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in the official records. This process helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Grey Nagar 3rdStreet?

The current guideline value of Grey Nagar 3rdStreet 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 this period.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations in Grey Nagar 3rdStreet?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, handles property registrations for Grey Nagar 3rdStreet.

What is the median guideline value for streets in Vepery?

The median guideline value for the 290 streets in Vepery under the Periamet SRO is Rs 4,800 per sq.ft, which is higher than the current value of Grey Nagar 3rdStreet.