Guideline Value for JAYARAM STREET

Jayaram Street guideline value

The current guideline value of Jayaram Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village under the Thiyagaraya nagar SRO, classified as Residential Class III Type - I.

How the guideline value of Jayaram Street has changed

The guideline value for Jayaram Street has seen significant changes over the years. In the 2002 revision, the guideline value was Rs 602 per sq.ft. This increased to Rs 668 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 1,500 per sq.ft in 2007, which was a substantial increase of 125%. However, in the 2012 revision, the value decreased to Rs 5,000 per sq.ft, reflecting a decline of 33%.

From 2012 to 2017, the guideline value remained at Rs 5,000 per sq.ft. The next revision in 2017 saw an increase to Rs 3,350 per sq.ft, representing a 49% rise. The most recent revision in 2023 set the guideline value at Rs 5,000 per sq.ft, which then increased to Rs 5,500 per sq.ft in 2024, a change of 10%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value of Jayaram Street is below this median.

• Jeenis Road: Rs 12,100 per sq.ft (2024)
• Jeer Naidu 2 Lane: Rs 5,000 per sq.ft (2024)
• Jeer Naidu 3 Lane: Rs 5,000 per sq.ft (2024)
• Jeer Naidu Ist Lane: Rs 5,000 per sq.ft (2024)
• Jeer Naidu Lane: Rs 5,000 per sq.ft (2024)
• Jones Road (East): Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaram 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 to Rs 4,95,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jayaram Street?

The Sub Registrar Office that covers Jayaram Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is an important factor when buying or selling property in Mambalam. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value serves as a benchmark for calculating the applicable fees. It is essential to check the latest guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Jayaram Street?

The current guideline value of Jayaram 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 changed significantly from Rs 602 in 2002 to Rs 5,500 in 2024, reflecting an overall increase of 814% over the years.

What is the land classification of Jayaram Street?

Jayaram Street is classified as Residential Class III Type - I under the Thiyagaraya nagar SRO.

Where can I find the Sub Registrar Office for Jayaram Street?

The Sub Registrar Office for Jayaram Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Mambalam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. It is essential to know the current guideline value to accurately calculate the applicable fees during property transactions.