Guideline Value for JAYACHANDRAN NAGAR 1ST STREET

Jayachandran Nagar 1st Street guideline value

The current guideline value for Jayachandran Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Jayachandran Nagar 1st Street has changed

The guideline value for Jayachandran Nagar 1st Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the increase was 49%, while the decrease from 2012 to 2017 was 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the current guideline value for Jayachandran Nagar 1st Street above that median.

• Jayachandran Nagar 1st Main Road: Rs 3,300 per sq.ft (2024)
• Jayachandran Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Jayachandran Nagar 13rd Street: Rs 3,300 per sq.ft (2024)
• Jayachandran Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Jayachandran Nagar 12th Street: Rs 3,300 per sq.ft (2024)
• Jayachandran Nagar 3rd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jayachandran Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jayachandran Nagar 1st Street?

The Sub Registrar Office that covers Jayachandran Nagar 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Jelandianpettai, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. The registration office will refer to the guideline value to assess the applicable fees and taxes for the transaction.

Frequently asked questions

What is the current guideline value for Jayachandran Nagar 1st Street?

The current guideline value for Jayachandran Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Jayachandran Nagar 1st Street?

The land classification for Jayachandran Nagar 1st Street is Commercial Class I Type - III, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Jayachandran Nagar 1st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Jelandianpettai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.