Guideline Value for Sami Lane

Sami Lane guideline value

The current guideline value of Sami Lane in Vepery village, under the Periamet SRO, is Rs 6,000 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Sami Lane has changed

The guideline value for Sami Lane has seen several revisions over the years. In the 2007 revision, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012, marking a rise of 450%. However, the value then decreased to Rs 3,685 per sq.ft in the 2017 revision, a drop of 33%. The 2023 revision set the value at Rs 5,500 per sq.ft, which then increased to Rs 6,000 per sq.ft in the 2024 revision, reflecting a change 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 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 guideline value for these streets is Rs 4,800 per sq.ft, making the current value of Sami Lane above that median.

• 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)
• Salai Street: Rs 11,500 per sq.ft (2024)
• Sait Mohan lal sowcar street: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sami Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sami Lane?

The Sub Registrar Office that covers Sami Lane 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 essential during the registration process when buying or selling property in Vepery. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is documented accurately and legally.

When a property is sold, the guideline value is used to assess the applicable duties, which are calculated based on the higher of the guideline value or the sale price. This ensures that all property transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Sami Lane?

The current guideline value of Sami Lane is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 500%.

What is the land classification for Sami Lane?

Sami Lane is classified as Residential Class II Type - I under the guideline value register.

Where can I find the registration office for Sami Lane?

The registration office for Sami Lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Vepery?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 60,00,000, the stamp duty would be calculated accordingly.