Guideline Value for Salai Street

Salai Street guideline value

The current guideline value of Salai Street is Rs 11,500 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 I Type - II.

How the guideline value of Salai Street has changed

The guideline value for Salai Street has seen significant changes over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased dramatically to Rs 10,500 per sq.ft in 2012, marking a rise of 950%. However, from 2012 to 2017, the value decreased to Rs 7,035 per sq.ft, a decline of 33%. The value then rose to Rs 10,500 per sq.ft in 2023, which was a 49% increase. The latest revision in 2024 set the value at Rs 11,500 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for Salai Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 1050%.

Guideline values in Vepery

In Vepery village, there are 290 streets under the Periamet SRO with 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 Salai Street's 2024 figure of Rs 11,500 per sq.ft notably above the median.

• 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)
• Saminathan Kiramani lane: Rs 4,800 per sq.ft (2024)
• Sami pillai street: Rs 7,000 per sq.ft (2024)
• Sait Mohan lal sowcar street: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Salai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would be Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, making the total fees together Rs 10,35,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Salai Street?

Salai 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 in property transactions in Vepery. It is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the transaction.

When registering a property, the guideline value is considered as a benchmark for the transaction. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Salai Street?

The current guideline value of Salai Street is Rs 11,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,000 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, marking an overall increase of 1050%.

What are the stamp duty and registration fees for property in Salai Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 10,35,000.

Which office handles property registrations for Salai Street?

The Periamet Sub Registrar Office handles property registrations for Salai Street, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the guideline value determined for property transactions?

The guideline value is determined by the registration department and is used to calculate the stamp duty and registration fees during property transactions. It serves as a benchmark for the value of properties in the area.