Guideline Value for JAWAHAR STREET

Jawahar Street guideline value

The current guideline value of Jawahar Street in Arumbakkam village, under the Kodambakkam SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Jawahar Street has changed

The guideline value for Jawahar Street has undergone several revisions over the years. The earliest recorded value in the register is from 2002, where it was Rs 475 per sq.ft. This value increased to Rs 524 per sq.ft in 2003, marking a 10% rise. The following revision in 2007 saw a significant increase to Rs 1,050 per sq.ft, which is a 100% jump from the previous year. In 2012, the value was Rs 5,000 per sq.ft, reflecting a decrease of 33% from 2007.

From 2012 to 2017, the guideline value decreased to Rs 3,350 per sq.ft, which was a further decline. However, the value rose to Rs 5,000 per sq.ft in 2023, followed by the latest revision in 2024, where it reached Rs 5,500 per sq.ft, indicating a 10% increase from the previous year. There are no figures available for the revisions in the years not mentioned in the register.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, placing Jawahar Street's 2024 figure below this median.

• Jawaharlal Nehru Road (100 Feet Road): Rs 14,300 per sq.ft (2024)
• Janakiraman Colony Extn: Rs 6,600 per sq.ft (2024)
• Janakiraman Colony: Rs 7,700 per sq.ft (2024)
• Jayaraman Street: Rs 5,700 per sq.ft (2024)
• J.D.Durairaj Nagar: Rs 3,800 per sq.ft (2024)
• Jeevarathinam Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jawahar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jawahar Street?

The Sub Registrar Office that covers Jawahar Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable 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 the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jawahar Street?

The current guideline value of Jawahar Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 475 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 1,058% over this period.

What is the land classification of Jawahar Street?

Jawahar Street is classified as Residential Special Type - III, indicating its suitability for residential development.

What are the stamp duty rates applicable for properties in Jawahar Street?

The stamp duty rate for properties in Jawahar Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Jawahar Street located?

The Sub Registrar Office for Jawahar Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.