Guideline Value for JEER NAIDU IST LANE

Jeer Naidu Ist Lane guideline value

The current guideline value of Jeer Naidu Ist Lane is Rs 5,000 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 - II.

How the guideline value of Jeer Naidu Ist Lane has changed

The guideline value for Jeer Naidu Ist Lane has seen several revisions over the years. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 200% rise. However, this value dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 4,500 per sq.ft in 2023, and most recently to Rs 5,000 per sq.ft in 2024, reflecting an 11% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 233%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, placing Jeer Naidu Ist Lane's current value below this median.

• Jeer Naidu 3 Lane: Rs 5,000 per sq.ft (2024)
• Jeer Naidu Lane: Rs 5,000 per sq.ft (2024)
• Jeer Naidu 2 Lane: Rs 5,000 per sq.ft (2024)
• Jeenis Road: Rs 12,100 per sq.ft (2024)
• Jayaram Street: Rs 5,500 per sq.ft (2024)
• Jones Road (East) Northern Side of Anna Salai Northern Side D.No 8 to Southern side D.No 1: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Jeer Naidu Ist Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, totaling Rs 4,50,000. It is important to note that 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 Jeer Naidu Ist Lane?

The Sub Registrar Office that covers Jeer Naidu Ist Lane 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 plays a crucial role in the registration process when buying or selling property in Mambalam. It determines the minimum value at which the property must be registered, ensuring that the transaction is documented at a fair price based on the prevailing market conditions.

During registration, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Jeer Naidu Ist Lane?

The current guideline value of Jeer Naidu Ist Lane is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 233% across the revisions.

What are the other streets in Mambalam with similar guideline values?

Other streets in Mambalam with a guideline value of Rs 5,000 per sq.ft include Jeer Naidu 3 Lane, Jeer Naidu Lane, and Jeer Naidu 2 Lane. These streets share the same current value as Jeer Naidu Ist Lane.

What is the stamp duty for property in Jeer Naidu Ist Lane?

The stamp duty for property in Jeer Naidu Ist Lane is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, this amounts to Rs 3,50,000.

Where can I find the Sub Registrar Office for Jeer Naidu Ist Lane?

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