Guideline Value for Heritage Jeyandrar Nagar 13th Street

Heritage Jeyandrar Nagar 13th Street guideline value

The current guideline value of Heritage Jeyandrar Nagar 13th 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 it falls under the Residential Class I Type - III land classification.

How the guideline value of Heritage Jeyandrar Nagar 13th Street has changed

The guideline value for Heritage Jeyandrar Nagar 13th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value significantly increased to Rs 2,500 per sq.ft in the 2023 revision, and finally rose to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year. It is important to note that there are no figures recorded for this street in the revisions of 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%, while the overall change from 2012 to 2024 reflects an increase of 8%. The fluctuations in values highlight the varying trends in the locality over the years.

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 value for these streets is Rs 2,200 per sq.ft, placing Heritage Jeyandrar Nagar 13th Street above this median.

• Heritage Jeyandrar Nagar 13th Cross Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 12th Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 1st Cross Street Extn: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 12th Cross Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Heritage Jeyandrar Nagar 13th 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 duty is charged on the higher of the guideline value and the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Heritage Jeyandrar Nagar 13th Street?

The Heritage Jeyandrar Nagar 13th Street falls under 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 details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with the registration requirements set by the government.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Heritage Jeyandrar Nagar 13th Street?

The current guideline value of Heritage Jeyandrar Nagar 13th 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 several times, starting from Rs 2,500 per sq.ft in 2012, dropping to Rs 1,675 per sq.ft in 2017, and then increasing to Rs 2,500 per sq.ft in 2023, before reaching Rs 2,700 per sq.ft in 2024.

What is the land classification for Heritage Jeyandrar Nagar 13th Street?

Heritage Jeyandrar Nagar 13th Street is classified as Residential Class I Type - III, which indicates its designation for residential purposes.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot at Rs 2,700 per sq.ft, the total fees would amount to Rs 2,43,000.

Which Sub Registrar Office covers this area?

The Selaiyur Sub Registrar Office covers Heritage Jeyandrar Nagar 13th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.