Guideline Value for Veerasamy 3rd street

Veerasamy 3rd street guideline value

The current guideline value of Veerasamy 3rd street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, classified as Residential Class III Type - III.

How the guideline value of Veerasamy 3rd street has changed

The guideline value for Veerasamy 3rd street has seen several revisions over the years. In 2007, the guideline value was Rs 1,200 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017. The value then rose significantly to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%, followed by a further increase of 10% from 2023 to 2024. The overall change from 2007 to 2024 reflects a substantial increase of 175% in the guideline value for this street.

Guideline values in Vepery

In Vepery village, 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 guideline value in this area is Rs 4,800 per sq.ft, making the 2024 figure for Veerasamy 3rd street below that median.

• Veerasamy 2nd street: Rs 3,300 per sq.ft (2024)
• Veerasamy 1st street: Rs 3,300 per sq.ft (2024)
• Veerasamy street: Rs 3,300 per sq.ft (2024)
• Vathiyar Kandappa Pillai Street: Rs 6,000 per sq.ft (2024)
• Varachithi Vinayagar Koil street: Rs 6,000 per sq.ft (2024)
• Varachithi Vinayagar Koil lane: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Veerasamy 3rd street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, resulting in a total cost of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veerasamy 3rd street?

The Sub Registrar Office that covers Veerasamy 3rd 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. When buying or selling property, this value is crucial for determining the stamp duty and registration fees that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements and to avoid any discrepancies during property transactions.

Frequently asked questions

What is the current guideline value of Veerasamy 3rd street?

The current guideline value of Veerasamy 3rd street is Rs 3,300 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 3,300 per sq.ft in 2024, representing an overall increase of 175% over the years.

What is the median guideline value in Vepery?

The median guideline value in Vepery village is Rs 4,800 per sq.ft, which means Veerasamy 3rd street's current value is below this median.

What are the stamp duty and registration fees for property in Veerasamy 3rd street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,97,000, based on the current guideline value.

Which office handles registrations for Veerasamy 3rd street?

The Periamet Sub Registrar Office handles registrations for Veerasamy 3rd street, located at 1103, Poonamallee High Road, Chennai-600 003.