Guideline Value for Old Aduthotti Street

Old Aduthotti Street guideline value

The current guideline value of Old Aduthotti Street is Rs 4,800 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Residential Class II Type - II.

How the guideline value of Old Aduthotti Street has changed

The guideline value for Old Aduthotti Street has undergone several revisions over the years. In 2007, the value was set at Rs 800 per sq.ft. This figure increased significantly to Rs 4,500 per sq.ft in 2012, representing a remarkable increase of 463%. However, it then decreased to Rs 3,015 per sq.ft in 2017, marking a decline of 33%. The value rose again to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,800 per sq.ft as of the 2024 revision, reflecting a 7% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 500%. The changes between the revisions highlight the fluctuations in property valuation over the years, with the most significant rise occurring between 2007 and 2012.

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 is Rs 4,800 per sq.ft, which is equal to the current guideline value of Old Aduthotti Street.

• Oil Mill Street: Rs 6,000 per sq.ft (2024)
• New Thiru Vi.Ka Nagar: Rs 2,700 per sq.ft (2024)
• Nellukallari street: Rs 4,400 per sq.ft (2024)
• Nellichalladai Street: Rs 4,800 per sq.ft (2024)
• NehruTimber Market: Rs 13,200 per sq.ft (2024)
• Parthasarathy Naidu New street: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Old Aduthotti Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,800 per sq.ft, the total guideline value amounts to Rs 48,00,000. The stamp duty at 7% would be Rs 3,36,000, while the registration fee at 2% would be Rs 96,000, bringing the total fees to Rs 4,32,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Old Aduthotti Street?

The Sub Registrar Office that covers Old Aduthotti 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 crucial factor when buying or selling property in Vepery. It serves as the basis for calculating stamp duty and registration fees during the property registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Old Aduthotti Street?

The current guideline value of Old Aduthotti Street is Rs 4,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,800 per sq.ft in 2024, marking an overall increase of 500% over the years.

What is the land classification for Old Aduthotti Street?

Old Aduthotti Street is classified as Residential Class II Type - II.

Where is the Sub Registrar Office located for Old Aduthotti Street?

The Sub Registrar Office for Old Aduthotti Street is located at 1103, Poonamallee High Road, Chennai-600 003.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 48,00,000, the total stamp duty and registration fees would amount to Rs 4,32,000.