Guideline Value for JETH NAGAR 3RD CROSS STREET

Jeth Nagar 3rd Cross Street guideline value

The current guideline value of Jeth Nagar 3rd Cross Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of Jeth Nagar 3rd Cross Street has changed

The guideline value for Jeth Nagar 3rd Cross Street has undergone several revisions over the years. In 2002, the value was Rs 959 per sq.ft, which increased to Rs 1,066 per sq.ft in 2003, marking an increase of 11%. The value saw a significant rise to Rs 1,540 per sq.ft in 2007, reflecting a 44% increase. By 2012, the value had jumped to Rs 8,000 per sq.ft, which was a considerable increase of 419% from the previous revision. However, it then decreased to Rs 5,360 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value rose sharply to Rs 8,000 per sq.ft, representing a 49% increase. The most recent revision in 2024 set the value at Rs 8,800 per sq.ft, a 10% increase from the previous year. The overall increase from 2002 to 2024 is a remarkable 818%. There are no figures available for the revisions in years not listed in the register.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, which is the same as the current guideline value for Jeth Nagar 3rd Cross Street.

• Jeth Nagar 2nd Cross Street: Rs 8,800 per sq.ft (2024)
• Jeth Nagar Main Road: Rs 8,800 per sq.ft (2024)
• Jeth Nagar 1st Cross Street: Rs 8,800 per sq.ft (2024)
• Jeevan Bheema Colony: Rs 8,800 per sq.ft (2024)
• Jonegan Lane: Rs 8,800 per sq.ft (2024)
• Jonegan Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Jeth Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000. Together, the total cost for these fees would be Rs 7,92,000. It is important to note that the 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 Jeth Nagar 3rd Cross Street?

The Sub Registrar Office that covers Jeth Nagar 3rd Cross Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, crescent Street, Alwarpet, Chennai -600018. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Mylapore. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during the sale or purchase of property. Buyers and sellers must ensure that they are aware of the current guideline value to avoid any discrepancies during registration.

When a property is sold, the registration office uses the guideline value to determine the applicable stamp duty and registration fees. This ensures that the transaction is processed accurately, reflecting the value of the property as per the latest guidelines set by the Registration Department.

Frequently asked questions

What is the current guideline value of Jeth Nagar 3rd Cross Street?

The current guideline value of Jeth Nagar 3rd Cross Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 959 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024. Over this period, it has seen several revisions with both increases and decreases in value.

What is the overall increase in guideline value from 2002 to 2024?

The overall increase in the guideline value from 2002 to 2024 is 818%. This significant rise reflects the various changes made over the years.

What are the stamp duty and registration fees for properties in Jeth Nagar 3rd Cross Street?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Jeth Nagar 3rd Cross Street?

The Mylapore Sub Registrar Office handles registrations for Jeth Nagar 3rd Cross Street. It is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, crescent Street, Alwarpet, Chennai -600018.