Guideline Value for Heritage Jeyandrar Nagar 7th Street

Heritage Jeyandrar Nagar 7th Street guideline value

The current guideline value of Heritage Jeyandrar Nagar 7th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Residential Class I Type - III.

How the guideline value of Heritage Jeyandrar Nagar 7th Street has changed

The guideline value for Heritage Jeyandrar Nagar 7th Street has undergone several revisions over the years. The earliest recorded revision is from 2012, which set the value at Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and further rose to Rs 2,700 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

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, with a median value of Rs 2,200 per sq.ft. The guideline value for Heritage Jeyandrar Nagar 7th Street is above this median.

• Heritage Jeyandrar Nagar 7th Cross Street Extn: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 8th Cross Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 7th Cross Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Heritage Jeyandrar Nagar 9th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Heritage Jeyandrar Nagar 7th 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 to Rs 2,43,000. 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 detailed calculations.

Which Sub Registrar Office covers Heritage Jeyandrar Nagar 7th Street?

The Sub Registrar Office that covers Heritage Jeyandrar Nagar 7th Street is 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 plays a crucial role in the registration process when buying or selling property in Chembakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects a fair value of the property being transacted.

Frequently asked questions

What is the current guideline value of Heritage Jeyandrar Nagar 7th Street?

The current guideline value of Heritage Jeyandrar Nagar 7th 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 increased 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 of Heritage Jeyandrar Nagar 7th Street?

Heritage Jeyandrar Nagar 7th Street is classified as Residential Class I Type - III.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or sale price, whichever is higher.

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.