Guideline Value for mahdum Sherif Street

mahdum Sherif Street guideline value

The current guideline value of mahdum Sherif Street is Rs 4,800 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, classified as Residential Class II Type - II.

How the guideline value of mahdum Sherif Street has changed

The guideline value for mahdum Sherif Street has undergone several revisions over the years. In 2012, the value was set at Rs 4,500 per sq.ft, which decreased to Rs 3,015 per sq.ft in 2017. Following this, the value increased significantly to Rs 4,500 per sq.ft in 2023, and then rose again to Rs 4,800 per sq.ft in 2024.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO, with guideline values ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value is Rs 4,800 per sq.ft, which is equal to the current guideline value of mahdum Sherif Street.

• Mahavir Colony: Rs 13,000 per sq.ft (2024)
• Maddox Street: Rs 4,900 per sq.ft (2024)
• Lal Singh Street: Rs 4,000 per sq.ft (2024)
• Mattukara Veerapadran Street: Rs 6,000 per sq.ft (2024)
• Lala Street: Rs 6,000 per sq.ft (2024)
• Lala Singh Street: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in mahdum Sherif 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 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers mahdum Sherif Street?

The Sub Registrar Office covering mahdum Sherif 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 is a crucial factor during the registration of property transactions in Vepery. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value recognized by the Registration Department.

When buying or selling property in Vepery, it is essential to consider the guideline value as it can significantly influence the total cost of the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, but the higher of the two will be used to calculate applicable duties and fees.

Frequently asked questions

What is the current guideline value of mahdum Sherif Street?

The current guideline value of mahdum Sherif 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 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then increased to Rs 4,500 per sq.ft in 2023, and finally to Rs 4,800 per sq.ft in 2024.

What is the land classification for mahdum Sherif Street?

mahdum Sherif Street is classified as Residential Class II Type - II under the land classification guidelines.

Where can I find the Sub Registrar Office for mahdum Sherif Street?

The Sub Registrar Office for mahdum Sherif Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

What are the other streets in Vepery and their guideline values?

Other streets in Vepery include Mahavir Colony at Rs 13,000 per sq.ft, Maddox Street at Rs 4,900 per sq.ft, Lal Singh Street at Rs 4,000 per sq.ft, Mattukara Veerapadran Street at Rs 6,000 per sq.ft, Lala Street at Rs 6,000 per sq.ft, and Lala Singh Street at Rs 4,000 per sq.ft.