Guideline Value for JAYACHANDRAN STREET

Jayachandran Street guideline value

The current guideline value of Jayachandran Street in Perumalagaram village is Rs 3,190 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class V Type - I.

How the guideline value of Jayachandran Street has changed

Over the years, the guideline value of Jayachandran Street has seen several revisions. The 2012 revision set the value at Rs 2,900 per sq.ft, which was a decrease of 33% from the Rs 1,943 per sq.ft recorded in the 2017 revision. The value remained the same in 2023 at Rs 2,900 per sq.ft, before increasing to Rs 3,190 per sq.ft in the 2024 revision, marking a 10% rise.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%, reaching the current figure of Rs 3,190 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft. The median value among these streets is Rs 3,190 per sq.ft, which is equal to the guideline value of Jayachandran Street.

• Janardhanam Street: Rs 3,190 per sq.ft (2024)
• Grand Vista: Rs 4,300 per sq.ft (2024)
• Gangaiamman Nagar /Koil Street: Rs 2,420 per sq.ft (2024)
• Ganga Enclave: Rs 2,420 per sq.ft (2024)
• Kavitha Street: Rs 3,190 per sq.ft (2024)
• Kothandaraman Street: Rs 3,190 per sq.ft (2024)

Stamp duty and registration fee for property in Jayachandran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value would be Rs 31,90,000. The stamp duty at 7% would amount to Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, bringing the total to Rs 2,87,100. 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 precise calculations.

Which Sub Registrar Office covers Jayachandran Street?

The Sub Registrar Office that covers Jayachandran Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perumalagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value helps in assessing the overall transaction value. Buyers and sellers must be aware that the registration fees and stamp duty are calculated based on the higher of the guideline value or the actual sale price, which can impact the total cost involved in the transaction.

Frequently asked questions

What is the current guideline value of Jayachandran Street?

The current guideline value of Jayachandran Street is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,900 per sq.ft in 2012 to Rs 3,190 per sq.ft in 2024, with notable increases in 2023 and 2024 revisions.

What is the registration office for Jayachandran Street?

The registration office for Jayachandran Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties on Jayachandran Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 31,90,000 would incur a stamp duty of Rs 2,23,300.

What is the land classification for Jayachandran Street?

Jayachandran Street is classified as Residential Class V Type - I, which is relevant for understanding its use and potential development.