Guideline Value for JAYARAMAN STREET

Jayaraman Street guideline value

The current guideline value of Jayaraman Street is Rs 5,700 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Jayaraman Street has changed

The guideline value for Jayaraman Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 834 per sq.ft. This increased to Rs 1,008 per sq.ft in 2003, marking a change of 21%. The value then rose to Rs 1,150 per sq.ft in 2007, which was an increase of 14%. Following this, the 2012 revision set the value at Rs 5,200 per sq.ft, reflecting a significant increase of 352% from the previous revision.

The 2017 revision recorded a value of Rs 3,484 per sq.ft, which was a decrease of 33% from the 2012 figure. The guideline value then increased to Rs 5,200 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 5,700 per sq.ft, marking a 10% increase from the previous year. There are no figures available for the revisions in years not mentioned.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, placing Jayaraman Street's 2024 figure below that median.

• J.D.Durairaj Nagar: Rs 3,800 per sq.ft (2024)
• Jeevarathinam Street: Rs 4,400 per sq.ft (2024)
• Jawahar Street: Rs 5,500 per sq.ft (2024)
• Jawaharlal Nehru Road (100 Feet Road): Rs 14,300 per sq.ft (2024)
• Janakiraman Colony Extn: Rs 6,600 per sq.ft (2024)
• Janakiraman Colony: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaraman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,700 per sq.ft, the total guideline value would be Rs 57,00,000. The stamp duty at 7% would amount to Rs 3,99,000, while the registration fee at 2% would be Rs 1,14,000. Together, the total cost for stamp duty and registration would be Rs 5,13,000. 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 Jayaraman Street?

The Sub Registrar Office that covers Jayaraman Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded at a fair value.

When buying or selling property, the guideline value helps in assessing the stamp duty and registration fees. Buyers should ensure that the sale price is either equal to or higher than the guideline value to avoid any legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Jayaraman Street?

The current guideline value of Jayaraman Street is Rs 5,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 834 per sq.ft in 2002 to Rs 5,700 per sq.ft in 2024, reflecting an overall increase of 583% over this period.

What are the stamp duty and registration fees for properties in Jayaraman Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 57,00,000. The stamp duty would be Rs 3,99,000 and the registration fee would be Rs 1,14,000, totaling Rs 5,13,000.

Which Sub Registrar Office is responsible for Jayaraman Street?

The Kodambakkam Sub Registrar Office is responsible for Jayaraman Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the median guideline value in Arumbakkam?

The median guideline value for streets in Arumbakkam is Rs 6,000 per sq.ft, with Jayaraman Street's current value being below this median at Rs 5,700 per sq.ft.