Guideline Value for Stringers Road

Stringers Road guideline value

The current guideline value of Stringers Road in Vepery village, under the Periamet SRO, is Rs 7,000 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - III.

How the guideline value of Stringers Road has changed

Over the years, the guideline value of Stringers Road has seen significant changes. The 2007 revision set the value at Rs 2,000 per sq.ft, which increased to Rs 6,400 per sq.ft in 2012. However, this value decreased by 33% to Rs 4,288 per sq.ft in 2017. Following this, the value rose sharply to Rs 6,400 per sq.ft in 2023, and then to Rs 7,000 per sq.ft in the 2024 revision, marking a 9% increase from the previous year. The register has no figures for the years 2002 and 2003.

From the 2007 revision to the 2024 revision, the overall increase in the guideline value is 250%. The value moved from Rs 2,000 per sq.ft in 2007 to the current Rs 7,000 per sq.ft, reflecting the fluctuations and adjustments made over the years.

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 value for these streets is Rs 4,800 per sq.ft, placing Stringers Road's 2024 figure above that median.

• Stringers 2nd lane: Rs 5,500 per sq.ft (2024)
• Stringers 1st lane: Rs 5,500 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 Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,000 per sq.ft, the total guideline value amounts to Rs 70,00,000. The stamp duty at 7% would be Rs 4,90,000, and the registration fee at 2% would be Rs 1,40,000, bringing the total cost for these charges to Rs 6,30,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Stringers Road?

The Sub Registrar Office that covers Stringers Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Vepery

When buying or selling property in Vepery, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used as a benchmark to assess the value of the property for these purposes, ensuring that the transaction is recorded accurately in the official registers.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall costs involved in the property transaction. This value is regularly revised to reflect changes in the real estate market and local conditions.

Frequently asked questions

What is the current guideline value of Stringers Road?

The current guideline value of Stringers Road is Rs 7,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 2,000 per sq.ft in 2007 to Rs 7,000 per sq.ft in 2024, reflecting an overall increase of 250% over this period.

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, with Stringers Road's value being above this median.

What fees are associated with buying property on Stringers Road?

For a property on Stringers Road, the stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Stringers Road?

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