Guideline Value for Play ground 2nd street

Play ground 2nd street guideline value

The current guideline value of Play ground 2nd street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, and the land classification is Mixed Type - I.

How the guideline value of Play ground 2nd street has changed

The guideline value for Play ground 2nd street has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a remarkable rise of 463%. However, by 2017, the value dropped to Rs 3,015 per sq.ft, a decrease of 33%. The value then increased to Rs 4,500 per sq.ft in 2023, followed by a further increase to Rs 4,900 per sq.ft in 2024, which is a rise of 9%.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 513%.

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 Play ground 2nd street is above this median.

• Play ground 1st street: Rs 4,900 per sq.ft (2024)
• Play ground 3rd street: Rs 4,800 per sq.ft (2024)
• Polu Naickenstreet: Rs 6,000 per sq.ft (2024)
• Ponniyamman Koil street: Rs 6,000 per sq.ft (2024)
• Poonamallee High Road: Rs 18,100 per sq.ft (2024)
• Poonappanstreet: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Play ground 2nd street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Play ground 2nd street?

The Sub Registrar Office that covers Play ground 2nd street 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 crucial factor during the registration of property transactions in Vepery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must adhere to the guideline value to ensure compliance with local regulations. This value is used to calculate the applicable stamp duty and registration fees, which are essential components of the property transaction process.

Frequently asked questions

What is the current guideline value of Play ground 2nd street?

The current guideline value of Play ground 2nd street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, with the 2007 value at Rs 800 per sq.ft, increasing to Rs 4,900 per sq.ft in 2024, marking an overall increase of 513% from 2007.

What are the other guideline values in Vepery?

Other streets in Vepery have varying guideline values, with Play ground 1st street and Play ground 2nd street both at Rs 4,900 per sq.ft, while Play ground 3rd street is at Rs 4,800 per sq.ft in 2024.

What is the stamp duty for property in Play ground 2nd street?

The stamp duty for property in Play ground 2nd street is calculated at 7% of the guideline value. For a plot valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000.

Which office handles the registration for Play ground 2nd street?

The registration for Play ground 2nd street is handled by the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.