Guideline Value for JAIN AVENUE

Jain Avenue guideline value

The current guideline value of Jain Avenue, located in Pulikoradu village, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Jain Avenue has changed

The guideline value for Jain Avenue has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is an increase from Rs 2,000 per sq.ft in the 2023 revision, marking a 10% rise. Prior to that, the 2017 revision recorded a value of Rs 1,340 per sq.ft, which was a significant increase of 49% from the previous 2012 figure of Rs 2,000 per sq.ft. It is important to note that there are no figures available for this street in the revisions from 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The fluctuation in values reflects the changes in demand and other factors affecting the real estate market in the region.

Guideline values in Pulikoradu

In Pulikoradu, there are 62 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 880 per sq.ft. Jain Avenue's current guideline value of Rs 2,200 per sq.ft is above this median.

• Jayalalitha Street: Rs 1,100 per sq.ft (2024)
• Hill Grove Town: Rs 2,200 per sq.ft (2024)
• Kalangal Street: Rs 880 per sq.ft (2024)
• G.S.T. Road: Rs 6,600 per sq.ft (2024)
• Kamban Street: Rs 880 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Jain Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value is Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. It is essential to note that the 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 Jain Avenue?

The Sub Registrar Office that covers Jain Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Pulikoradu

The guideline value plays a crucial role during the registration of property transactions in Pulikoradu. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the higher of the guideline value or the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jain Avenue?

The current guideline value of Jain Avenue is Rs 2,200 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 2023 to Rs 2,200 per sq.ft in 2024. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012, showing a significant increase over the years.

What are the other streets with guideline values in Pulikoradu?

Other streets in Pulikoradu have varying guideline values. For instance, Jayalalitha Street is valued at Rs 1,100 per sq.ft, while G.S.T. Road is at Rs 6,600 per sq.ft.

What is the registration fee for property in Jain Avenue?

The registration fee for property in Jain Avenue is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 22,00,000, the registration fee at 2% would be Rs 44,000.

Where can I find the Sub Registrar Office for Jain Avenue?

The Sub Registrar Office for Jain Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find more details online.