Guideline Value for Play ground 3rd street

Play ground 3rd street guideline value

The current guideline value of Play ground 3rd street is Rs 4,800 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, classified as Residential Class II Type - II.

How the guideline value of Play ground 3rd street has changed

The guideline value of Play ground 3rd street has undergone several revisions over the years. In the 2007 revision, the value was Rs 800 per sq.ft, which significantly increased to Rs 4,500 per sq.ft in the 2012 revision. However, the value then decreased to Rs 3,015 per sq.ft in the 2017 revision. Following this, the 2023 revision set the value at Rs 4,500 per sq.ft, and the most recent 2024 revision raised it to Rs 4,800 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

Between the revisions, notable changes include a 463% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017. The value then saw a significant increase of 49% from 2017 to 2023. Finally, from 2023 to 2024, there was a 7% increase. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Vepery

In Vepery village, 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 2024 guideline value of Play ground 3rd street.

• Play ground 2nd street: Rs 4,900 per sq.ft (2024)
• Play ground 1st street: Rs 4,900 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 3rd street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,800 per sq.ft, the total guideline value would be Rs 48,00,000. The stamp duty at 7% would amount to Rs 3,36,000, and the registration fee at 2% would be Rs 96,000, bringing the total 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 Play ground 3rd street?

The Sub Registrar Office that covers Play ground 3rd 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 when buying or selling property in Vepery. It serves as a benchmark for determining the minimum value of the property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that the government receives appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Play ground 3rd street?

The current guideline value of Play ground 3rd 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, reflecting a total increase of 500% over the years.

What is the land classification for Play ground 3rd street?

Play ground 3rd street is classified as Residential Class II Type - II under the Periamet SRO.

What are the stamp duty rates for property transactions in this area?

The stamp duty rate for property transactions in this area is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Play ground 3rd street?

The Sub Registrar Office for Play ground 3rd street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.