Guideline Value for JAI AVENUE (TAI)

Jai Avenue (Tai) guideline value

The current guideline value of Jai Avenue (Tai) in Potheri 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 remained unchanged until the 2017 revision, where it dropped to Rs 536 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 800 per sq.ft, marking a 49% rise. The most recent revision in 2024 brought the guideline value to Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing Jai Avenue (Tai) above this median value.

• 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 guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

To calculate your own stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

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 Potheri

The guideline value is a crucial factor when buying or selling property in Potheri. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the transaction.

At the time of registration, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for all property transactions. This ensures transparency in property dealings and helps in maintaining a standard for property values in the area.

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 increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

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

Jai Avenue (Tai) is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for properties in Jai Avenue (Tai)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total cost would be Rs 79,200, including both fees.

Where is the Sub Registrar Office for Jai Avenue (Tai)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.