Guideline Value for JEER NAIDU LANE

Jeer Naidu Lane guideline value

The current guideline value of Jeer Naidu Lane is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the jurisdiction of the Thiyagaraya nagar SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Jeer Naidu Lane has changed

Over the years, the guideline value of Jeer Naidu Lane has seen several revisions. In 2002, 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 then rose significantly to Rs 1,500 per sq.ft in 2007, reflecting a 125% increase. The next revision in 2012 saw the value drop to Rs 4,500 per sq.ft, a decrease of 33%. In 2017, the guideline value was again revised to Rs 3,015 per sq.ft, which was an increase of 49% from the previous figure. The most recent revision before the current one was in 2023, which set the value at Rs 4,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 5,000 per sq.ft, an increase of 11%.

There are no figures available for revisions in the years not listed for this street. Overall, from 2002 to 2024, the guideline value has increased by 731%.

Guideline values in Mambalam

In Mambalam village, 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 Jeer Naidu Lane is below this median.

• Jeer Naidu Ist Lane: Rs 5,000 per sq.ft (2024)
• Jeer Naidu 3 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 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, bringing the total fees to Rs 4,50,000. 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 information.

Which Sub Registrar Office covers Jeer Naidu Lane?

The Sub Registrar Office that covers Jeer Naidu 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mambalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. 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 Jeer Naidu Lane?

The current guideline value of Jeer Naidu 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 602 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 731% over the years.

What is the land classification for Jeer Naidu Lane?

Jeer Naidu Lane is classified as Residential Class III Type - II.

What are the stamp duty and registration fees for properties in Jeer Naidu Lane?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Which Sub Registrar Office covers Jeer Naidu Lane?

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