Guideline Value for JAYAM AVENUE

Jayam Avenue guideline value

The current guideline value of Jayam Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chitthalapakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Jayam Avenue has changed

The guideline value for Jayam Avenue has seen several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 2,010 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and further rose to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value for Jayam Avenue. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value is Rs 2,900 per sq.ft, making Jayam Avenue's 2024 figure above that median.

• Jayanthi Nagar: Rs 2,700 per sq.ft (2024)
• Jothi Mangala Nagar: Rs 2,100 per sq.ft (2024)
• Jothi Mangala Nagar Extension: Rs 2,100 per sq.ft (2024)
• Indira Nagar: Rs 2,700 per sq.ft (2024)
• Kakanji Street: Rs 1,950 per sq.ft (2024)
• Kalaingar Street: Rs 1,950 per sq.ft (2024)

Stamp duty and registration fee for property in Jayam Avenue

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jayam Avenue?

The Sub Registrar Office that covers Jayam Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chitthalapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jayam Avenue?

The current guideline value of Jayam 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 several times, with the most recent revision in 2024 increasing it from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft. The value has seen a significant increase of 49% from 2017 to 2023.

What is the land classification of Jayam Avenue?

Jayam Avenue is classified as Residential Special Type - III, which indicates its intended use for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

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

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