Guideline Value for JAGAJEEVANRAM SALAI

Jagajeevanram Salai guideline value

The current guideline value of Jagajeevanram Salai is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chemmancheri village under the Neelankarai SRO, classified as Residential Class I Type - II.

How the guideline value of Jagajeevanram Salai has changed

The guideline value for Jagajeevanram Salai has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a rise of 124%. The most recent revision in 2024 increased the guideline value to Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 65%. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value of Jagajeevanram Salai is above this median.

• Irattai Malai Srinivasan Street: Rs 1,700 per sq.ft (2024)
• Jamela Begum Garden: Rs 2,800 per sq.ft (2024)
• Janani Homes/ Janani's Cm Enclave: Rs 1,700 per sq.ft (2024)
• Janani Jai Balaji Avenue: Rs 1,700 per sq.ft (2024)
• Janani's Raghav Enclave: Rs 1,700 per sq.ft (2024)
• Janani's Shrinilayalam: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Jagajeevanram Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Jagajeevanram Salai?

The Sub Registrar Office that covers Jagajeevanram Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Chemmancheri. It serves as a benchmark for determining the minimum value for which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers must be aware of the current guideline value to accurately calculate the associated costs and fees during the registration process.

Frequently asked questions

What is the current guideline value of Jagajeevanram Salai?

The current guideline value of Jagajeevanram Salai is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, with several revisions in between, including a significant increase from Rs 1,340 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2023.

What is the land classification for Jagajeevanram Salai?

Jagajeevanram Salai is classified as Residential Class I Type - II, indicating its suitability for residential development.

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

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.