Guideline Value for Stringers 2nd lane

Stringers 2nd lane guideline value

The current guideline value of Stringers 2nd lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Stringers 2nd lane has changed

The guideline value for Stringers 2nd lane has seen several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, reflecting a rise of 317%. However, the value decreased to Rs 3,350 per sq.ft in 2017, marking a decline of 33%. The next revision in 2023 raised it to Rs 5,000 per sq.ft, followed by a further increase to Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 358%.

Guideline values in Vepery

In Vepery, 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 is Rs 4,800 per sq.ft, placing Stringers 2nd lane above this median.

• Stringers 1st 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 2nd lane

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to 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, totaling Rs 4,95,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Stringers 2nd lane?

The Sub Registrar Office that covers Stringers 2nd 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 a crucial factor in property transactions in Vepery, as it determines the minimum value at which properties can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for property transactions, facilitating a smoother process for both parties involved.

Frequently asked questions

What is the current guideline value of Stringers 2nd lane?

The current guideline value of Stringers 2nd 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 increased from Rs 1,200 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 358% over the years.

What are the other streets in Vepery with their guideline values?

Other streets in Vepery include Stringers 1st lane at Rs 5,500 per sq.ft, Stringers Road at Rs 7,000 per sq.ft, Subbaiya Street at Rs 4,400 per sq.ft, and others, with values ranging from Rs 2,700 to Rs 7,000 per sq.ft.

Where can I find the registration office for Stringers 2nd lane?

The registration office for Stringers 2nd 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 guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at the rate of 7%.