Guideline Value for JAYALAKSHMI AVENUE

Jayalakshmi Avenue guideline value

The current guideline value of Jayalakshmi Avenue in Zaminpallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Jayalakshmi Avenue has changed

The guideline value for Jayalakshmi Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

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

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Jayalakshmi Avenue.

• Jayalakshmi Nagar: Rs 3,300 per sq.ft (2024)
• Jayalakshmi Nagar 1 To 3 Streets: Rs 3,300 per sq.ft (2024)
• Javvadhu Hussain Street: Rs 2,160 per sq.ft (2024)
• Jayalakshmi Street: Rs 3,300 per sq.ft (2024)
• Jagath Avenue 1 To 4 Streets: Rs 2,750 per sq.ft (2024)
• Iyswarya Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Jayalakshmi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jayalakshmi Avenue?

The Sub Registrar Office covering Jayalakshmi Avenue is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, within the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When buyers and sellers engage in a transaction, the guideline value ensures that the property is valued fairly for taxation purposes. This value is used to calculate the associated costs, ensuring transparency in the registration process.

Frequently asked questions

What is the current guideline value of Jayalakshmi Avenue?

The current guideline value of Jayalakshmi Avenue 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 classification of land on Jayalakshmi Avenue?

Jayalakshmi Avenue is classified as Residential Class I Type - II under the guideline value register.

Where can I find the Sub Registrar Office for Jayalakshmi Avenue?

The Pallavaram Sub Registrar Office covers Jayalakshmi Avenue and is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Jayalakshmi Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would amount to Rs 2,31,000.