Guideline Value for JEGAJEEVANRAM NAGAR 7TH STREET

Jegajeevanram Nagar 7th Street guideline value

The current guideline value of Jegajeevanram Nagar 7th Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Jegajeevanram Nagar 7th Street has changed

The guideline value for Jegajeevanram Nagar 7th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 500 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, it saw a decrease to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024, which is a 7% increase from the previous year. Notably, there are no figures recorded for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in guideline value is 220%. The changes between the revisions are as follows: from 2017 to 2023, there was a significant increase of 49%, and from 2012 to 2017, a decrease of 33% was observed. The guideline value has fluctuated over the years, reflecting the various revisions made.

Guideline values in Perambur

In Perambur, there are 1114 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 7th Street is below this median.

• Jegajeevanram Nagar 6th Street: Rs 1,600 per sq.ft (2024)
• Jegajeevanram Nagar 8th Street: Rs 1,600 per sq.ft (2024)
• Jegajeevanram Nagar 5th Street: Rs 1,600 per sq.ft (2024)
• Jegajeevanram Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Jegajeevanram Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• Jegajeevanram Nagar 3rd Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Jegajeevanram Nagar 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, leading to a total of Rs 1,44,000 for these charges. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jegajeevanram Nagar 7th Street?

The Jegajeevanram Nagar 7th Street falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered. When a property is sold, the guideline value is often used to calculate the applicable stamp duty and registration fees, ensuring that the transaction adheres to the legal requirements.

Buyers and sellers should be aware that the guideline value is updated periodically, reflecting changes in the real estate market. Therefore, it is advisable to check the latest guideline values before proceeding with any property transactions to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Jegajeevanram Nagar 7th Street?

The current guideline value of Jegajeevanram Nagar 7th Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 220% over the years.

What is the land classification of Jegajeevanram Nagar 7th Street?

Jegajeevanram Nagar 7th Street is classified as Residential Class V Type - I.

Where can I find the registration office for this area?

The registration office for Jegajeevanram Nagar 7th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated on properties in this area?

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