Guideline Value for JEY YES ROAD

Jey Yes Road guideline value

The current guideline value of Jey Yes Road, located in Perumbakkam village under the Selaiyur SRO, is Rs 2,725 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification.

How the guideline value of Jey Yes Road has changed

The guideline value for Jey Yes Road has undergone several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 2,725 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that the register has no figure for Jey Yes Road for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 4,800 per sq.ft. The median value among these streets is Rs 2,725 per sq.ft, which is equal to the current guideline value of Jey Yes Road.

• Jothi Durai Street: Rs 2,725 per sq.ft (2024)
• Jeeva Street: Rs 3,300 per sq.ft (2024)
• Jaya Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Jaya Nagar 1st- 3rd Main Road: Rs 1,600 per sq.ft (2024)
• Jaya Nagar 1st - 26th Street: Rs 1,600 per sq.ft (2024)
• Jaya Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Jey Yes Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,725 per sq.ft, the total guideline value amounts to Rs 27,25,000. The stamp duty charged at 7% would be Rs 1,90,750, while the registration fee at 2% would be Rs 54,500. Together, these fees total Rs 2,45,250. 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 Jey Yes Road?

The Sub Registrar Office covering Jey Yes Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

Frequently asked questions

What is the current guideline value of Jey Yes Road?

The current guideline value of Jey Yes Road is Rs 2,725 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen several changes, starting from Rs 2,500 per sq.ft in 2012, dropping to Rs 1,675 per sq.ft in 2017, and then rising to Rs 2,500 per sq.ft in 2023, before reaching Rs 2,725 per sq.ft in 2024.

What is the land classification of Jey Yes Road?

Jey Yes Road is classified under the Residential Special Type - I land classification.

Where can I find the Sub Registrar Office for Jey Yes Road?

The Sub Registrar Office for Jey Yes Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,25,000, the stamp duty would be Rs 1,90,750 and the registration fee would be Rs 54,500, totaling Rs 2,45,250.