Guideline Value for Heritage Jeyandrar Nagar 12th Cross Street

Heritage Jeyandrar Nagar 12th Cross Street guideline value

The current guideline value for Heritage Jeyandrar Nagar 12th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Heritage Jeyandrar Nagar 12th Cross Street has changed

The guideline value for Heritage Jeyandrar Nagar 12th Cross Street has seen several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which remained unchanged until the next revision in 2017, where it dropped to Rs 1,675 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 2,500 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 2,700 per sq.ft, reflecting an increase of 8% from the previous year.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to a higher level. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, positioning Heritage Jeyandrar Nagar 12th Cross Street above this median.

• Heritage Jeyandrar Nagar 11th Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 12th Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 11th Cross Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 13th Cross Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 10th Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 13th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Heritage Jeyandrar Nagar 12th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Heritage Jeyandrar Nagar 12th Cross Street?

The Heritage Jeyandrar Nagar 12th Cross Street falls under the jurisdiction of the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Heritage Jeyandrar Nagar 12th Cross Street?

The current guideline value of Heritage Jeyandrar Nagar 12th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Heritage Jeyandrar Nagar 12th Cross Street?

Heritage Jeyandrar Nagar 12th Cross Street is classified as Residential Class I Type - III.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 2,43,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.