Guideline Value for JAYADEVI 1st STREET

JAYADEVI 1st STREET guideline value

The current guideline value of JAYADEVI 1st STREET is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of JAYADEVI 1st STREET has changed

Over the years, the guideline value of JAYADEVI 1st STREET has undergone several revisions. The earliest recorded figure is from 2003, where the guideline value was Rs 202 per sq.ft. It then increased to Rs 500 per sq.ft in 2007, followed by a significant rise to Rs 2,500 per sq.ft in 2012. However, this figure dropped to Rs 1,675 per sq.ft in 2017. The subsequent revisions saw an increase to Rs 2,500 per sq.ft in 2023, and currently, it stands at Rs 2,800 per sq.ft as of the 2024 revision.

Examining the changes between these revisions reveals notable fluctuations. From 2003 to 2007, the value increased by 148%. However, it saw a decrease of 33% from 2012 to 2017. The most significant increase occurred from 2017 to 2023, where the value rose by 49%. The latest increase from 2023 to 2024 is 12%. Overall, from 2003 to 2024, the guideline value has increased by 1286%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing JAYADEVI 1st STREET's 2024 figure below that median.

• Jawaharlal Nehru Nagar: Rs 1,700 per sq.ft (2024)
• Jains Peeble Brook: Rs 2,800 per sq.ft (2024)
• J.K.Avenue: Rs 3,300 per sq.ft (2024)
• Iyappa Lay Out (Sri): Rs 2,200 per sq.ft (2024)
• Jothimadha Alaiyam Street: Rs 4,400 per sq.ft (2024)
• Ishwariya Foundations: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in JAYADEVI 1st STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost for these fees to Rs 2,52,000. 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 JAYADEVI 1st STREET?

The Sub Registrar Office that covers JAYADEVI 1st STREET is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of JAYADEVI 1st STREET?

The current guideline value of JAYADEVI 1st STREET is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of JAYADEVI 1st STREET has changed several times, from Rs 202 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1286% since 2003.

What is the land classification for JAYADEVI 1st STREET?

JAYADEVI 1st STREET is classified as Residential Class II Type - II, indicating its designation for residential purposes within the area.

What are the stamp duty and registration fees for properties in JAYADEVI 1st STREET?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,52,000.

Where is the Sub Registrar Office for JAYADEVI 1st STREET located?

The Sub Registrar Office covering JAYADEVI 1st STREET is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.