Guideline Value for Heritage Jeyandrar Nagar 2nd Cross Street Extn

Heritage Jeyandrar Nagar 2nd Cross Street Extn guideline value

The current guideline value of Heritage Jeyandrar Nagar 2nd Cross Street Extn 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 2nd Cross Street Extn has changed

The guideline value for Heritage Jeyandrar Nagar 2nd Cross Street Extn has seen several revisions over the years. The 2012 revision recorded a guideline value of Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and then to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

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

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, placing Heritage Jeyandrar Nagar 2nd Cross Street Extn above this median.

• Heritage Jeyandrar Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 3rd Cross 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 3rd Cross Street Extn: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Heritage Jeyandrar Nagar 2nd Cross Street Extn

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, making the total cost for these fees Rs 2,43,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Heritage Jeyandrar Nagar 2nd Cross Street Extn?

The Heritage Jeyandrar Nagar 2nd Cross Street Extn 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, 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 plays a crucial role in the registration process of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value must be considered, as it affects the financial obligations of both parties. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Heritage Jeyandrar Nagar 2nd Cross Street Extn?

The current guideline value of Heritage Jeyandrar Nagar 2nd Cross Street Extn 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 this street?

Heritage Jeyandrar Nagar 2nd Cross Street Extn is classified as Residential Class I Type - III.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Heritage Jeyandrar Nagar 2nd Cross Street Extn is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering Heritage Jeyandrar Nagar 2nd Cross Street Extn is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.