Guideline Value for Venkatesa Mudali street

Venkatesa Mudali street guideline value

The current guideline value of Venkatesa Mudali street is Rs 4,800 per sq.ft. This street is located in Vepery village under the Periamet SRO, classified as Residential Class II Type - II.

How the guideline value of Venkatesa Mudali street has changed

The guideline value for Venkatesa Mudali street has undergone several revisions over the years. The earliest recorded revision is from 2007, with a guideline value of Rs 1,500 per sq.ft. This figure increased significantly to Rs 4,500 per sq.ft in 2012, marking a 200% rise. However, in 2017, the value dropped to Rs 3,015 per sq.ft, reflecting a decrease of 33%. The value then saw a substantial increase to Rs 4,500 per sq.ft in 2023, followed by the latest revision in 2024, which set the guideline value at Rs 4,800 per sq.ft, a rise of 7% from the previous year.

It is important to note that the register does not contain figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 220%.

Guideline values in Vepery

In Vepery village, there are 290 streets under the Periamet SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value is Rs 4,800 per sq.ft, which is equal to the current guideline value of Venkatesa Mudali street.

• Venkatchala Mudali street: Rs 4,800 per sq.ft (2024)
• Venkatesa Puram Colony New: Rs 4,800 per sq.ft (2024)
• Vepery Church road: Rs 7,700 per sq.ft (2024)
• Veppery HighRoad: Rs 12,100 per sq.ft (2024)
• Vera Chetty 1st street: Rs 4,800 per sq.ft (2024)
• VeraChetty 2nd street: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesa Mudali 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, bringing the total fees together to Rs 4,32,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Venkatesa Mudali street?

The Sub Registrar Office that covers Venkatesa Mudali 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 plays a crucial role in the registration process when buying or selling property in Vepery. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it helps in budgeting for the additional costs associated with property transactions. It ensures that all parties are aware of the official value set by the government for the property being transacted.

Frequently asked questions

What is the current guideline value of Venkatesa Mudali street?

The current guideline value of Venkatesa Mudali 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 1,500 per sq.ft in 2007 to Rs 4,800 per sq.ft in 2024, reflecting an overall increase of 220% over the years.

What is the land classification for Venkatesa Mudali street?

Venkatesa Mudali street is classified as Residential Class II Type - II under the current guidelines.

Where is the Sub Registrar Office located for Venkatesa Mudali street?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003, which covers Venkatesa Mudali street.

How is stamp duty calculated for properties in Vepery?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 48,00,000 would incur a stamp duty of Rs 3,36,000 at 7%.