Guideline Value for JAI AVENUE (TAI)

Jai Avenue (Tai) guideline value

The current guideline value of Jai Avenue (Tai) in Thailavaram village is Rs 881 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

The guideline value for Jai Avenue (Tai) has seen several revisions over the years. 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, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 800 per sq.ft, representing a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 881 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figures for Jai Avenue (Tai) for the years 2002, 2003, and 2007. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Jai Avenue (Tai) above this median with its current value of Rs 881 per sq.ft.

• 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 881 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 881 per sq.ft, the total guideline value amounts to Rs 8,81,000. The stamp duty at 7% would be Rs 61,670, and the registration fee at 2% would be Rs 17,620, bringing the total fees to Rs 79,290. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Thailavaram

The guideline value plays a crucial role in the registration process when buying or selling property in Thailavaram. It serves as a benchmark for calculating the stamp duty and registration fees that must be paid at the time of registration. Buyers and sellers must consider this value to ensure compliance with local regulations.

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

Frequently asked questions

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

The current guideline value of Jai Avenue (Tai) is Rs 881 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 881 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.

Where can I find the Chengleput Joint II Sub Registrar Office?

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

How is the stamp duty calculated for properties in Thailavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For Jai Avenue (Tai), the stamp duty is 7% of the guideline value, along with a registration fee of 2%.