Guideline Value for Thulasi Naicken street

Thulasi Naicken street guideline value

The current guideline value of Thulasi Naicken street is Rs 4,800 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 II Type - II land classification.

How the guideline value of Thulasi Naicken street has changed

The guideline value for Thulasi Naicken street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, there was a decrease in the 2017 revision, bringing it down to Rs 3,015 per sq.ft. This was followed by a substantial increase to Rs 4,500 per sq.ft in 2023, and finally, the current value of Rs 4,800 per sq.ft was established in the 2024 revision, marking a 7% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 300%. The register has no figure for Thulasi Naicken street in the years 2002 and 2003.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that have 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, which aligns with the current guideline value of Thulasi Naicken street.

• Thottikalai Kumarappa Mudali street: Rs 7,700 per sq.ft (2024)
• ThoppaiStreet: Rs 4,800 per sq.ft (2024)
• Thiru Vi.ka.NagarExtension: Rs 4,400 per sq.ft (2024)
• Thiruvengadam Street: Rs 9,900 per sq.ft (2024)
• Uthucattan street: Rs 9,900 per sq.ft (2024)
• Thirunarayan Guru Road(Hunters Road): Rs 12,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thulasi Naicken 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, making the total cost Rs 4,32,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thulasi Naicken street?

The Sub Registrar Office that covers Thulasi Naicken street 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 serves as a benchmark for property transactions in Vepery. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thulasi Naicken street?

The current guideline value of Thulasi Naicken 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 1,200 per sq.ft in 2007 to Rs 4,800 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What is the registration office for Thulasi Naicken street?

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

What are the stamp duty and registration fees for a property in Thulasi Naicken street?

The stamp duty is charged at 7% of the guideline value or sale price, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 4,32,000, which includes both fees.

Are there other streets in Vepery with different guideline values?

Yes, there are several other streets in Vepery with varying guideline values, ranging from Rs 2,200 to Rs 22,000 per sq.ft. Thulasi Naicken street's value is currently aligned with the median value in the area.