Guideline Value for Vepery Church road

Vepery Church road guideline value

The current guideline value of Vepery Church road is Rs 7,700 per sq.ft, effective from 1 July 2024. This road is located in Vepery village under the Periamet SRO and is classified as Commercial Class I Type - II.

How the guideline value of Vepery Church road has changed

Over the years, the guideline value of Vepery Church road has seen significant changes. In the 2007 revision, the value was Rs 3,000 per sq.ft, which increased to Rs 7,000 per sq.ft in 2012, marking a rise of 133%. However, from 2012 to 2017, the value decreased to Rs 4,690 per sq.ft, reflecting a decline of 33%. The value then surged to Rs 7,000 per sq.ft in the 2023 revision, a 49% increase, and finally reached Rs 7,700 per sq.ft in the 2024 revision, a 10% rise.

The guideline value register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 157%.

Guideline values in Vepery

In Vepery, 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 value is Rs 4,800 per sq.ft, indicating that Vepery Church road's current value is above this median.

• 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)
• VeraChetty 3rd street: Rs 4,800 per sq.ft (2024)
• Venkatesa Puram Colony New: Rs 4,800 per sq.ft (2024)
• Venkatesa Mudali street: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Vepery Church road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees to Rs 6,93,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vepery Church road?

The Sub Registrar Office that covers Vepery Church 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

The guideline value plays a crucial role during property transactions in Vepery. It serves as a benchmark for determining the minimum value for registration, ensuring that properties are not undervalued during the sale process.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential components of the transaction process. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vepery Church road?

The current guideline value of Vepery Church road is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 3,000 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 157%.

What is the land classification for Vepery Church road?

Vepery Church road is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles registrations for Vepery Church road?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, handles registrations for Vepery Church road.