Guideline Value for JERMIAH ROAD

Jermiah Road guideline value

The current guideline value of Jermiah Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This road is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of Jermiah Road has changed

The guideline value for Jermiah Road has seen significant changes over the years. In the 2007 revision, the value was Rs 2,600 per sq.ft, which increased dramatically to Rs 12,000 per sq.ft in 2012. However, it then decreased to Rs 8,040 per sq.ft in 2017. The value rose again to Rs 12,000 per sq.ft in the 2023 revision, and currently stands at Rs 13,200 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 408%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, placing Jermiah Road's 2024 figure above that median.

• Kalatthiyappa Mudali Street: Rs 6,000 per sq.ft (2024)
• Kalyana Maistry Garden: Rs 2,200 per sq.ft (2024)
• Kalyana Maistry Garden 10th Street: Rs 2,200 per sq.ft (2024)
• Kalyana Maistry Garden 11th Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 12th Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 13th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jermiah Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total to Rs 11,88,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jermiah Road?

The Sub Registrar Office that covers Jermiah Road 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 Purasaivakkam

The guideline value is an essential factor during the registration of property transactions in Purasaivakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling a property, the guideline value helps in determining the minimum value at which the property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Jermiah Road?

The current guideline value of Jermiah Road is Rs 13,200 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 2,600 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024. Notable changes include a decrease in 2017 and an increase of 10% from 2023 to 2024.

What is the land classification for Jermiah Road?

Jermiah Road is classified as Residential Special Type - I, indicating its suitability for residential development.

What is the registration office for Jermiah Road?

The registration office for Jermiah Road 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 Jermiah Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 at a rate of 7%.