Guideline Value for JONEGAN LANE

Jonegan Lane guideline value

The current guideline value of Jonegan Lane is Rs 8,800 per sq.ft, effective from 1 July 2024. This lane is located in Mylapore village and falls under the Mylapore SRO, classified as Residential Class III Type - III.

How the guideline value of Jonegan Lane has changed

The guideline value for Jonegan Lane has seen significant changes over the years. In 2002, the value was Rs 872 per sq.ft, which increased to Rs 969 per sq.ft in 2003. The next revision in 2012 brought the value to Rs 8,000 per sq.ft, but it then decreased to Rs 5,360 per sq.ft in 2017. The value rose to Rs 8,000 per sq.ft again in 2023, and currently stands at Rs 8,800 per sq.ft from the 2024 revision. Notably, there are no figures available for the year 2007 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 10%. The most substantial increase occurred between 2003 and 2012, where the value surged by 726%. Overall, from 2002 to 2024, the guideline value has increased by 909%.

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 is Rs 8,800 per sq.ft, making Jonegan Lane's current figure equal to this median. Below are other streets in Mylapore:

• Jonegan Street: Rs 8,800 per sq.ft (2024)
• Jeth Nagar Main Road: Rs 8,800 per sq.ft (2024)
• Jeth Nagar 3rd Cross Street: Rs 8,800 per sq.ft (2024)
• Jeth Nagar 2nd Cross Street: Rs 8,800 per sq.ft (2024)
• Jeth Nagar 1st Cross Street: Rs 8,800 per sq.ft (2024)
• Judge Jumbulingam Street: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jonegan Lane

For a 1,000 sq.ft plot at the current rate of Rs 8,800 per sq.ft, the guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling 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 also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jonegan Lane?

The Sub Registrar Office that covers Jonegan Lane 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 plays a crucial role during property registration in Mylapore. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are recorded at a fair value.

When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Jonegan Lane?

The current guideline value of Jonegan Lane 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 872 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, showing an overall increase of 909% over the years.

What is the stamp duty for property in Jonegan Lane?

The stamp duty for a property in Jonegan Lane is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Jonegan Lane located?

The Mylapore Sub Registrar Office, which covers Jonegan Lane, is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What are other streets with the same guideline value in Mylapore?

Other streets in Mylapore with the same guideline value of Rs 8,800 per sq.ft include Jonegan Street, Jeth Nagar Main Road, Jeth Nagar 3rd Cross Street, Jeth Nagar 2nd Cross Street, and Jeth Nagar 1st Cross Street.