Guideline Value for JAYARAM CHETTY STREET

Jayaram Chetty Street guideline value

The current guideline value of Jayaram Chetty Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village, under the Chennai South Joint II SRO, and is classified as Residential Class I Type - II.

How the guideline value of Jayaram Chetty Street has changed

The guideline value for Jayaram Chetty Street has seen significant changes over the years. In the 2002 revision, the value was Rs 489 per sq.ft. This increased to Rs 615 per sq.ft in 2003, marking a rise of 26%. The following revisions saw substantial increases, with the 2007 revision setting the value at Rs 1,682 per sq.ft, a remarkable increase of 173%. In 2012, the value was Rs 5,000 per sq.ft, reflecting a 197% increase from the previous revision. However, the 2017 revision saw a decrease to Rs 3,350 per sq.ft, a drop of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, and the latest revision in 2024 has set the guideline value at Rs 5,500 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,025%. The register has no figure for the years not mentioned in the list.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, which means that Jayaram Chetty Street's 2024 value is above the median.

• Jeeva Street: Rs 4,400 per sq.ft (2024)
• Jones Road: Rs 8,250 per sq.ft (2024)
• Kaleeswarar Koil Street: Rs 4,950 per sq.ft (2024)
• Ilaiyalvar Koil Street: Rs 4,400 per sq.ft (2024)
• Hospital Road 2nd Lane: Rs 5,500 per sq.ft (2024)
• Hospital Road 1st Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaram Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. 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 more details.

Which Sub Registrar Office covers Jayaram Chetty Street?

The Sub Registrar Office that covers Jayaram Chetty 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. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Saidapet. It is used to determine the stamp duty and registration fees that must be paid, ensuring that these fees are based on a standardized valuation of the property.

When a property is sold, the guideline value helps in establishing a fair basis for taxation. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Jayaram Chetty Street?

The current guideline value of Jayaram Chetty Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 489 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 1,025%.

What are the stamp duty and registration fees for property in Jayaram Chetty Street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Jayaram Chetty Street?

The Chennai South Joint II Sub Registrar Office covers Jayaram Chetty Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How does the guideline value affect property transactions in Saidapet?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It ensures that these fees are based on a standardized valuation, which is essential for both buyers and sellers to understand their financial obligations.