Guideline Value for Association Cross Street / Road

Association Cross Street / Road guideline value

The current guideline value of Association Cross Street / Road is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Jampuli village under the Madhavaram SRO, classified as Residential Class IV Type - I.

How the guideline value of Association Cross Street / Road has changed

The guideline value for Association Cross Street / Road has undergone several revisions over the years. In 2012, the value was set at Rs 1,600 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,072 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 1,600 per sq.ft, before rising again to Rs 1,700 per sq.ft in the 2024 revision.

Between the revisions, the changes were as follows: from 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 6% increase. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Jampuli

In Jampuli village, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft, with a median value of Rs 2,450 per sq.ft. The guideline value of Association Cross Street / Road is below this median.

• Association Road 1st Street: Rs 1,700 per sq.ft (2024)
• Association Street / Road: Rs 1,700 per sq.ft (2024)
• Associaton Road 2nd Street: Rs 1,700 per sq.ft (2024)
• Arul Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Arul Nagar: Rs 2,200 per sq.ft (2024)
• Annai Velankanni Nagar Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Association Cross Street / Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Association Cross Street / Road?

The Sub Registrar Office that covers Association Cross Street / Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Jampuli. It serves as a basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to determine the applicable duties. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Association Cross Street / Road?

The current guideline value of Association Cross Street / Road is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of Association Cross Street / Road?

Association Cross Street / Road is classified as Residential Class IV Type - I according to the Madhavaram SRO guidelines.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, a property valued at Rs 17,00,000 would incur a stamp duty of Rs 1,19,000 and a registration fee of Rs 34,000.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Association Cross Street / Road is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about it online.