Guideline Value for Veppery HighRoad

Veppery HighRoad guideline value

The current guideline value of Veppery HighRoad is Rs 12,100 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, classified as Commercial Special Type - IV.

How the guideline value of Veppery HighRoad has changed

The guideline value for Veppery HighRoad has undergone several revisions over the years. In 2007, the value was Rs 4,000 per sq.ft, which increased significantly to Rs 11,000 per sq.ft in 2012, marking a 175% rise. However, it dropped to Rs 7,370 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 11,000 per sq.ft in 2023, followed by a further increase to Rs 12,100 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 203%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery village, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. Veppery HighRoad's 2024 guideline value is above this median.

• 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)
• Vepery Church road: Rs 7,700 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 Veppery HighRoad

For a 1,000 sq.ft plot at the current guideline value of Rs 12,100 per sq.ft, the total guideline value amounts to Rs 1,21,00,000. The stamp duty at 7% would be Rs 8,47,000, and the registration fee at 2% would be Rs 2,42,000, leading to a total of Rs 10,89,000 for these charges. 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 accurate calculations.

Which Sub Registrar Office covers Veppery HighRoad?

The Veppery HighRoad falls under the jurisdiction of the Periamet Sub Registrar Office located at 1103, Poonamallee High Road, Chennai-600 003. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Vepery

The guideline value is a crucial factor in the registration process of property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees that are required to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Veppery HighRoad?

The current guideline value of Veppery HighRoad is Rs 12,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2007 to Rs 12,100 per sq.ft in 2024, showing an overall increase of 203% over the years.

What is the land classification of Veppery HighRoad?

Veppery HighRoad is classified as Commercial Special Type - IV under the land classification system.

What are the stamp duty and registration fees for properties in Veppery HighRoad?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 10,89,000 in these fees.

Which office handles registrations for Veppery HighRoad?

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