Guideline Value for JAHAJEEVAN RAM STREET

Jahajeevan Ram Street guideline value

The current guideline value of Jahajeevan Ram Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Minjur village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Jahajeevan Ram Street has changed

The guideline value for Jahajeevan Ram Street has undergone several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in the 2023 revision. The latest revision in 2024 has further increased the value to Rs 550 per sq.ft, marking a change of +10% from the previous year. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by +64%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. The 2017 figure of Rs 335 per sq.ft was the starting point for the subsequent increases.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,320 per sq.ft. The median value for these streets is Rs 550 per sq.ft, which aligns with the current guideline value for Jahajeevan Ram Street.

• Jahajeevan Ram Cross Street: Rs 550 per sq.ft (2024)
• Janakirathina Nagar: Rs 1,320 per sq.ft (2024)
• Janakirathina Nagar Bazzar: Rs 1,320 per sq.ft (2024)
• Jawahar Nagar: Rs 1,320 per sq.ft (2024)
• Jayaram Nagar: Rs 440 per sq.ft (2024)
• Indhira Nagar Road: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Jahajeevan Ram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is essential to note that the stamp duty is charged on either the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jahajeevan Ram Street?

The Sub Registrar Office that covers Jahajeevan Ram Street is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Minjur, as it determines the stamp duty and registration fees applicable during the transaction. Buyers must consider this value to ensure they are aware of the costs involved in the registration process.

When a property is sold, the guideline value helps in assessing the official value of the property for taxation purposes. It is essential for both buyers and sellers to be informed about the current guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Jahajeevan Ram Street?

The current guideline value of Jahajeevan Ram Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024. This represents an overall increase of +64% from 2017 to 2024.

What is the median guideline value for streets in Minjur?

The median guideline value for streets in Minjur is Rs 550 per sq.ft, which is the same as the current guideline value for Jahajeevan Ram Street.

What are the stamp duty and registration fees for property in Jahajeevan Ram Street?

The stamp duty for a property valued at Rs 5,50,000 would be Rs 38,500, while the registration fee would be Rs 11,000, totaling Rs 49,500. These fees are calculated based on the guideline value or sale price, whichever is higher.

Which office handles registrations for Jahajeevan Ram Street?

The Ponneri Sub Registrar Office handles registrations for Jahajeevan Ram Street, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.