Guideline Value for JEGABATHI RAO STREET

Jegabathi Rao Street guideline value

The current guideline value of Jegabathi Rao Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Class IV Type - II.

How the guideline value of Jegabathi Rao Street has changed

The guideline value for Jegabathi Rao Street has seen several revisions over the years. In 2002, the value was Rs 244 per sq.ft, which increased to Rs 273 per sq.ft in 2003. Following this, the value rose significantly to Rs 712 per sq.ft in 2007, marking an increase of 161%. The value then jumped to Rs 1,500 per sq.ft in 2012, a rise of 111%. However, it decreased to Rs 1,005 per sq.ft in 2017, reflecting a decline of 33%. The value increased again to Rs 1,500 per sq.ft in 2023 and finally reached Rs 1,700 per sq.ft in 2024, showing a growth of 13% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 597%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Jegabathi Rao Street is below this median.

• Jeevarathinam Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Jeevarathinam Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Jeevarathinam Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Jeevarathinam Nagar: Rs 2,200 per sq.ft (2024)
• Jeevanandam Street: Rs 2,800 per sq.ft (2024)
• Jeevanandam 1st Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Jegabathi Rao Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that 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 Jegabathi Rao Street?

The Sub Registrar Office that covers Jegabathi Rao Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Palavakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The fees are calculated based on the higher value between the guideline value and the sale price.

When selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the official rates set by the government. This helps maintain transparency in property transactions and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Jegabathi Rao Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 244 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, showing an overall increase of 597% over the years.

What is the land classification of Jegabathi Rao Street?

Jegabathi Rao Street is classified as Residential Class IV Type - II under the Neelankarai SRO.

What are the stamp duty and registration fees for property in Jegabathi Rao Street?

For a property valued at Rs 17,00,000, the stamp duty is Rs 1,19,000 and the registration fee is Rs 34,000, totaling Rs 1,53,000.

Which office handles registrations for Jegabathi Rao Street?

The Neelankarai Sub Registrar Office handles registrations for Jegabathi Rao Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.