Guideline Value for Heritage Jeyandrar Nagar 9th Street

Heritage Jeyandrar Nagar 9th Street guideline value

The current guideline value of Heritage Jeyandrar Nagar 9th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village and falls under the Selaiyur SRO, classified as Residential Class I Type - III.

How the guideline value of Heritage Jeyandrar Nagar 9th Street has changed

The guideline value for Heritage Jeyandrar Nagar 9th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,500 per sq.ft in 2023, and most recently, it has risen to Rs 2,700 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value experienced a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%. The transition from 2023 to 2024 reflects an increase of 8%. Overall, when considering the period from 2012 to 2024, the guideline value has risen by 8%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a guideline value for 2024 ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, positioning Heritage Jeyandrar Nagar 9th Street above this median.

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

Stamp duty and registration fee for property in Heritage Jeyandrar Nagar 9th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Heritage Jeyandrar Nagar 9th Street?

The Sub Registrar Office that covers Heritage Jeyandrar Nagar 9th 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 property transactions in Chembakkam. It is used as a reference point for determining the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Heritage Jeyandrar Nagar 9th Street?

The current guideline value of Heritage Jeyandrar Nagar 9th 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, with the most recent increase of 8% from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024. There was also a significant increase of 49% from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023.

What is the land classification for Heritage Jeyandrar Nagar 9th Street?

Heritage Jeyandrar Nagar 9th Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office for Heritage Jeyandrar Nagar 9th Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.