Guideline Value for JAYACHANDRAN NAGAR 7TH STREET

Jayachandran Nagar 7th Street guideline value

The current guideline value for Jayachandran Nagar 7th 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 7th Street has changed

The guideline value for Jayachandran Nagar 7th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from Rs 2,010 per sq.ft in the 2017 revision. However, the value increased to Rs 3,000 per sq.ft again in 2023, followed by a rise to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased significantly by 49%. 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 is Rs 2,200 per sq.ft, which means that Jayachandran Nagar 7th Street's 2024 guideline value is above this median.

• Jayachandran Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Jayachandran Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Jayachandran Nagar 6th Main Road: Rs 3,300 per sq.ft (2024)
• Jayachandran Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Jayachandran Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Jayachandran Nagar 5th Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jayachandran Nagar 7th 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, and 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 or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayachandran Nagar 7th Street?

The Sub Registrar Office that covers Jayachandran Nagar 7th 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 more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Jayachandran Nagar 7th Street?

The current guideline value of Jayachandran Nagar 7th 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 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Jayachandran Nagar 7th Street?

The land classification for Jayachandran Nagar 7th Street is Commercial Class I Type - III.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Jayachandran Nagar 7th Street is charged at 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Jayachandran Nagar 7th 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.