Guideline Value for Sami nathan Gramani Street

Sami nathan Gramani Street guideline value

The current guideline value of Sami nathan Gramani 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 Sami nathan Gramani Street has changed

The guideline value for Sami nathan Gramani Street has seen several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, it dropped to Rs 3,015 per sq.ft in 2017 before rising again to Rs 4,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 4,800 per sq.ft, marking a 7% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 500%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO, with a 2024 guideline value range 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, which is the same as the guideline value for Sami nathan Gramani Street.

• Saminathan Kiramani lane: Rs 4,800 per sq.ft (2024)
• Sami pillai street: Rs 7,000 per sq.ft (2024)
• Sami MudaliStreet: Rs 6,000 per sq.ft (2024)
• Sami Lane: Rs 6,000 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 nathan Gramani 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 cost for these fees to 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sami nathan Gramani Street?

The Sub Registrar Office covering Sami nathan Gramani Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more information, you can 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 of property transactions in Vepery. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the duty is charged on whichever amount is higher. This ensures that the transaction is accurately reflected in the official records and that the appropriate taxes are collected.

Frequently asked questions

What is the current guideline value of Sami nathan Gramani Street?

The current guideline value of Sami nathan Gramani 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 an overall increase of 500% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 48,00,000, the 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 Sami nathan Gramani Street?

The Periamet Sub Registrar Office covers Sami nathan Gramani Street, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the guideline value determined for properties in Vepery?

The guideline value for properties in Vepery is determined by the Registration Department and is based on various factors, including the location and type of property. It is used to calculate stamp duty and registration fees during property transactions.