Guideline Value for Stringers 1st lane

Stringers 1st lane guideline value

The current guideline value for Stringers 1st lane in Vepery village, under the Periamet SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This classification falls under Residential Class I Type - III.

How the guideline value of Stringers 1st lane has changed

The guideline value for Stringers 1st lane has undergone several revisions over the years. In 2007, the value was Rs 2,500 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. Subsequently, the value increased significantly to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

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 120%.

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 value is Rs 4,800 per sq.ft, placing Stringers 1st lane's 2024 figure above this median.

• Stringers 2nd lane: Rs 5,500 per sq.ft (2024)
• Stringers Road: Rs 7,000 per sq.ft (2024)
• Subbaiya Street: Rs 4,400 per sq.ft (2024)
• sundarajaperumal Koil street: Rs 4,400 per sq.ft (2024)
• Sundarapuram 1st street: Rs 2,700 per sq.ft (2024)
• Sundarapuram 2nd street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Stringers 1st lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, leading to a total of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Stringers 1st lane?

The Sub Registrar Office that covers Stringers 1st lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. To find your specific 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 the registration process of property transactions in Vepery. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the authorities will assess the guideline value to ensure that the transaction is in compliance with the legal requirements. This ensures transparency and helps in maintaining a standard for property valuations within the area.

Frequently asked questions

What is the current guideline value for Stringers 1st lane?

The current guideline value for Stringers 1st lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What is the median guideline value for streets in Vepery?

The median guideline value for the 290 streets in Vepery under the Periamet SRO is Rs 4,800 per sq.ft.

What are the stamp duty and registration fees for properties in Stringers 1st lane?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 4,95,000.

Where is the Sub Registrar Office located for Stringers 1st lane?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003, covering Stringers 1st lane.