Guideline Value for Sait Bakwath Paith Varmal Sowcar Street

Sait Bakwath Paith Varmal Sowcar Street guideline value

The current guideline value of Sait Bakwath Paith Varmal Sowcar Street is Rs 4,800 per sq.ft, effective from 1 July 2024. This street is located in Vepery village and falls under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - II.

How the guideline value of Sait Bakwath Paith Varmal Sowcar Street has changed

The guideline value for Sait Bakwath Paith Varmal Sowcar Street has seen several revisions over the years. In the 2007 revision, the value was Rs 800 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in the 2012 revision, marking a 463% rise. However, in the 2017 revision, the value decreased to Rs 3,015 per sq.ft, reflecting a drop of 33%. The guideline value then rose to Rs 4,500 per sq.ft in the 2023 revision, which was a 49% increase from the previous figure. The most recent revision in 2024 set the value at Rs 4,800 per sq.ft, which is a 7% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 500%.

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 for these streets is Rs 4,800 per sq.ft, making the current guideline value of Sait Bakwath Paith Varmal Sowcar Street equal to this median.

• Sait Jaswanmal Sowcar Street: Rs 4,800 per sq.ft (2024)
• Sait Mohan lal sowcar street: Rs 4,800 per sq.ft (2024)
• Salai Street: Rs 11,500 per sq.ft (2024)
• Sami Lane: Rs 6,000 per sq.ft (2024)
• Sami MudaliStreet: Rs 6,000 per sq.ft (2024)
• Sami nathan Gramani Street: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sait Bakwath Paith Varmal Sowcar 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 be Rs 3,36,000, and the registration fee at 2% would amount to Rs 96,000. Together, the total cost for these fees would be Rs 4,32,000. 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 Sait Bakwath Paith Varmal Sowcar Street?

The Sait Bakwath Paith Varmal Sowcar Street falls under 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 plays a crucial role during the registration process when buying or selling property in Vepery. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per government regulations.

When a property is registered, the guideline value is used to determine the applicable fees, which are essential for the legal transfer of ownership. Buyers and sellers must be aware of these values to ensure compliance with local regulations and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Sait Bakwath Paith Varmal Sowcar Street?

The current guideline value of Sait Bakwath Paith Varmal Sowcar 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 significantly from Rs 800 per sq.ft in 2007 to Rs 4,800 per sq.ft in 2024, reflecting a 500% increase overall.

What are the stamp duty and registration fees for properties in this street?

For a 1,000 sq.ft plot, the total stamp duty would be Rs 3,36,000, and the registration fee would be Rs 96,000, totaling Rs 4,32,000.

Which Sub Registrar Office covers this street?

The Periamet Sub Registrar Office covers Sait Bakwath Paith Varmal Sowcar Street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Sait Bakwath Paith Varmal Sowcar Street?

The land classification for Sait Bakwath Paith Varmal Sowcar Street is Residential Class II Type - II.