Guideline Value for JAI AVENUE (TAI)

Jai Avenue (Tai) guideline value

The current guideline value of Jai Avenue (Tai) in Konathi village is Rs 880 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Jai Avenue (Tai) has changed

Over the years, the guideline value of Jai Avenue (Tai) has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 800 per sq.ft in the 2023 revision, and finally rose to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for Jai Avenue (Tai) for the years 2002, 2003, and 2007.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,500 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Jai Avenue (Tai) above this median.

• Indra Street (Ward-21): Rs 660 per sq.ft (2024)
• Kaathavarayan Koil Street (Ward -1): Rs 770 per sq.ft (2024)
• Handicaped Street (Ward-21): Rs 660 per sq.ft (2024)
• Gurusamy Street (Ward-21): Rs 660 per sq.ft (2024)
• Kakkan Street Mgr Nagar (Ward-20): Rs 880 per sq.ft (2024)
• Kalaignar Karunanithi Street (Ward-20): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Avenue (Tai)

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, making a total of Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jai Avenue (Tai)?

The Sub Registrar Office that covers Jai Avenue (Tai) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Konathi

The guideline value is a crucial factor during property transactions in Konathi, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations and to calculate applicable duties and fees.

When registering a property, the guideline value is used to assess the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives revenue based on the property's assessed worth.

Frequently asked questions

What is the current guideline value of Jai Avenue (Tai)?

The current guideline value of Jai Avenue (Tai) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Jai Avenue (Tai)?

Jai Avenue (Tai) is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty rates for properties in Jai Avenue (Tai)?

The stamp duty for properties in Jai Avenue (Tai) is charged at a rate of 7% on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Jai Avenue (Tai)?

The Sub Registrar Office for Jai Avenue (Tai) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.