Guideline Value for Vedariri Street(Maistry)

Vedariri Street(Maistry) guideline value

The current guideline value of Vedariri Street(Maistry) is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village, under the Periamet SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vedariri Street(Maistry) has changed

The guideline value for Vedariri Street(Maistry) has seen significant changes over the years. In the 2007 revision, the value was Rs 900 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012. However, this value dropped to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value rose to Rs 4,000 per sq.ft in 2023 and then to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, while the value decreased by 33% from 2012 to 2017. The increase from 2007 to 2012 was a substantial 344%. Overall, from 2007 to 2024, the guideline value has increased by 389%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Vedariri Street(Maistry) above this median.

• Veeramman Koil Street: Rs 3,800 per sq.ft (2024)
• Vannara Street(WashermenStreet): Rs 3,300 per sq.ft (2024)
• Venkatesa Gramani Street: Rs 3,800 per sq.ft (2024)
• Ulagappa maistry street: Rs 6,600 per sq.ft (2024)
• Thulukkanam Street: Rs 2,500 per sq.ft (2024)
• Thiyagaraja Stret(Varadarajapuram): Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vedariri Street(Maistry)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. 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 Vedariri Street(Maistry)?

The Sub Registrar Office that covers Vedariri Street(Maistry) 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 Chindadripet

The guideline value plays a crucial role in the registration process of property transactions in Chindadripet. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When buyers and sellers engage in a transaction, they must refer to the guideline value to ensure compliance with legal requirements. The guideline value is essential for calculating the costs associated with property registration, ensuring that all parties are aware of the financial implications of their transaction.

Frequently asked questions

What is the current guideline value of Vedariri Street(Maistry)?

The current guideline value of Vedariri Street(Maistry) is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 900 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 389% over the years.

What is the land classification for Vedariri Street(Maistry)?

Vedariri Street(Maistry) is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for Vedariri Street(Maistry)?

The registration office for Vedariri Street(Maistry) is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Vedariri Street(Maistry)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.