Guideline Value for JEGAJEEVANRAM NAGAR 1ST STREET

Jegajeevanram Nagar 1st Street guideline value

The current guideline value of Jegajeevanram Nagar 1st Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class V Type - I.

How the guideline value of Jegajeevanram Nagar 1st Street has changed

The guideline value for Jegajeevanram Nagar 1st Street has seen several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, representing a 200% rise. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, marking a decline of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, and in the latest 2024 revision, it further increased to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 220%. The revisions for the years 2002 and 2003 do not have figures recorded for this street.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Jegajeevanram Nagar 1st Street is below this median.

• Jegajeevan Ram Nagar: Rs 1,600 per sq.ft (2024)
• Jegajeevanram Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Jegadhambal Street: Rs 3,200 per sq.ft (2024)
• Jegajeevanram Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• Jegajeevanram Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• Jegajeevanram Nagar 5th Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Jegajeevan Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jegajeevanram Nagar 1st Street?

The Sub Registrar Office that covers Jegajeevanram Nagar 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perambur as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Ensuring that the property is registered at or above the guideline value helps in maintaining transparency and legal compliance in real estate dealings.

Frequently asked questions

What is the current guideline value for Jegajeevanram Nagar 1st Street?

The current guideline value for Jegajeevanram Nagar 1st Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value increased from Rs 1,005 per sq.ft to Rs 1,600 per sq.ft, which is a rise of 220% overall since 2007.

What is the land classification for Jegajeevanram Nagar 1st Street?

Jegajeevanram Nagar 1st Street is classified as Residential Class V Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Jegajeevanram Nagar 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at the rate of 7%.