Guideline Value for Jermiah Road

Jermiah Road guideline value

The current guideline value of Jermiah Road, located in Vepery village under the Periamet SRO, is Rs 13,000 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Jermiah Road has changed

The guideline value for Jermiah Road has undergone several revisions over the years. In 2007, the value was Rs 3,000 per sq.ft, which increased significantly to Rs 12,000 per sq.ft in the 2012 revision. However, it saw a decrease to Rs 8,040 per sq.ft in 2017. Following this, the value rose to Rs 12,000 per sq.ft in 2023, and currently stands at Rs 13,000 per sq.ft as of the 2024 revision, marking an 8% increase from the previous year.

Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 333%. Notably, 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. Jermiah Road's 2024 guideline value is above this median.

• Kadappa Rangiah Street: Rs 8,800 per sq.ft (2024)
• Kalyanapuram: Rs 2,700 per sq.ft (2024)
• Kalyana Venkatesa PerumalKoilStreet: Rs 4,800 per sq.ft (2024)
• Jadkhapuram: Rs 4,800 per sq.ft (2024)
• Irusappan Street: Rs 8,800 per sq.ft (2024)
• Hunters Road(or)ThirunarayanaGuru street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Jermiah Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,000 per sq.ft, the total guideline value amounts to Rs 1,30,00,000. The stamp duty at 7% would be Rs 9,10,000, and the registration fee at 2% would be Rs 2,60,000, bringing the total fees together to Rs 11,70,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jermiah Road?

The Sub Registrar Office that covers Jermiah Road 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 is a critical component in the registration process for property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees applicable when a property is bought or sold.

When registering a property, the guideline value is used to calculate the fees, ensuring that the transaction is recorded at a value that reflects the current market conditions as determined by the registration department.

Frequently asked questions

What is the current guideline value of Jermiah Road?

The current guideline value of Jermiah Road is Rs 13,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 13,000 per sq.ft in 2024, reflecting an overall increase of 333% since 2007.

What is the land classification for Jermiah Road?

Jermiah Road is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for Jermiah Road?

For a property valued at Rs 1,30,00,000, the total stamp duty and registration fees would amount to Rs 11,70,000, based on the current guideline value.

Where is the Sub Registrar Office for Jermiah Road located?

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