Guideline Value for JEGAN STREET

Jegan Street guideline value

The current guideline value of Jegan Street in Vengathur village is Rs 700 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Manavalanagar SRO and is classified as Residential Class II Type - I.

How the guideline value of Jegan Street has changed

The guideline value for Jegan Street has undergone several revisions over the years. In 2007, the value was Rs 125 per sq.ft, which saw a significant increase to Rs 700 per sq.ft in 2012. However, this figure dropped to Rs 469 per sq.ft in 2017, before returning to Rs 700 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 was a remarkable 460%, while the overall change from 2007 to 2024 also reflects a 460% increase. The most recent revision from 2023 to 2024 shows no change, maintaining the value at Rs 700 per sq.ft.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, placing Jegan Street's 2024 guideline value below this median.

• Jeevanantham Street: Rs 1,300 per sq.ft (2024)
• Kaide Millath Street: Rs 500 per sq.ft (2024)
• Kalaivanar Street: Rs 500 per sq.ft (2024)
• Indhira Gandhi Street: Rs 700 per sq.ft (2024)
• Kamaraj Street: Rs 1,300 per sq.ft (2024)
• Kamaraj Street (Kabilar Nagar): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jegan Street

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, together totaling Rs 63,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jegan Street?

The Sub Registrar Office that covers Jegan Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vengathur. It is used to calculate the stamp duty and registration fees, which are mandatory for all property sales and purchases.

When you buy or sell a property, the guideline value is compared with the sale price. The higher of the two is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are accurately recorded and taxed accordingly.

Frequently asked questions

What is the current guideline value of Jegan Street?

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

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 125 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then to Rs 469 per sq.ft in 2017, and back to Rs 700 per sq.ft in 2023 and 2024.

What is the median guideline value in Vengathur?

The median guideline value for streets in Vengathur is Rs 1,000 per sq.ft, while Jegan Street's current value is below this median.

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

For a property valued at Rs 7,00,000, the stamp duty is Rs 49,000 and the registration fee is Rs 14,000, totaling Rs 63,000.

Which office handles property registrations for Jegan Street?

The Manavalanagar Sub Registrar Office handles property registrations for Jegan Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.