Guideline Value for Powder MillsRoad

Powder MillsRoad guideline value

The current guideline value for Powder MillsRoad in Vepery village, under the Periamet SRO, is Rs 4,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Powder MillsRoad has changed

The guideline value for Powder MillsRoad has undergone several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 125% rise. However, this value decreased to Rs 3,015 per sq.ft in 2017, reflecting a drop of 33%. The next revision in 2023 saw a substantial increase to Rs 4,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 4,800 per sq.ft, a change of 7%.

It is important to note that 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 140%.

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 the median being Rs 4,800 per sq.ft. The guideline value for Powder MillsRoad aligns with this median.

• Prakasa Rao colony 2nd street: Rs 4,800 per sq.ft (2024)
• Pooramrakasa Rao 1st street: Rs 6,000 per sq.ft (2024)
• Pooram Prakasa Rao colony: Rs 4,800 per sq.ft (2024)
• Pooram Prakasa Rao 2nd street: Rs 4,800 per sq.ft (2024)
• Poonappanstreet: Rs 6,000 per sq.ft (2024)
• Poonamallee High Road: Rs 18,100 per sq.ft (2024)

Stamp duty and registration fee for property in Powder MillsRoad

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 fees to Rs 4,32,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Powder MillsRoad?

The Sub Registrar Office that covers Powder MillsRoad 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 factor during property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. The value is set by the Registration Department and is updated periodically to reflect changes in the real estate market.

When a property is registered, the guideline value is used to calculate the applicable fees. Buyers should be aware that the final cost may vary based on the sale price or the guideline value, depending on which is higher.

Frequently asked questions

What is the current guideline value for Powder MillsRoad?

The current guideline value for Powder MillsRoad 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 2,000 per sq.ft in 2007 to Rs 4,800 per sq.ft in 2024, reflecting an overall increase of 140% over the years.

What are the stamp duty and registration fees for property in Powder MillsRoad?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,32,000.

Which office handles the registration for Powder MillsRoad?

The Periamet Sub Registrar Office handles the registration for Powder MillsRoad, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Powder MillsRoad?

Powder MillsRoad is classified as Residential Class II Type - II, indicating its suitability for residential development.