Guideline Value for JONES ROAD EAST TO WEST

Jones Road East To West guideline value

The current guideline value for Jones Road East To West is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Residential Special Type - I.

How the guideline value of Jones Road East To West has changed

The guideline value for Jones Road East To West has seen significant changes over the years. In 2002, the guideline value was Rs 781 per sq.ft, which increased to Rs 1,100 per sq.ft in 2003, marking a 41% increase. From 2003 to 2007, the value rose to Rs 2,500 per sq.ft, reflecting a 127% increase. The 2012 revision saw the value rise to Rs 9,000 per sq.ft, a substantial increase of 260% from the 2007 figure. However, in 2017, the value dropped to Rs 6,030 per sq.ft, a decrease of 33%.

In 2023, the guideline value was Rs 9,000 per sq.ft, which then increased to Rs 9,900 per sq.ft in the 2024 revision, representing a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1168%.

Guideline values in Mambalam

Within Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Jones Road East To West above this median.

• Jones Road (East) Northern Side of Anna Salai Northern Side D.No 8 to Southern side D.No 1: Rs 9,900 per sq.ft (2024)
• Jothi Ramalingam 1 Street: Rs 4,400 per sq.ft (2024)
• Jothi Ramalingam 2 Street: Rs 4,400 per sq.ft (2024)
• Jothi Ramalingam Street: Rs 6,600 per sq.ft (2024)
• Jubilee Road: Rs 9,900 per sq.ft (2024)
• Jeer Naidu Lane: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Jones Road East To West

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, while the registration fee at 2% would be Rs 1,98,000. Together, the total cost for these fees would be Rs 8,91,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jones Road East To West?

The Sub Registrar Office that covers Jones Road East To West is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mambalam, as it determines the minimum price at which a property can be registered. This value is set by the government and is used to calculate the stamp duty and registration fees applicable during the transaction.

When a buyer purchases a property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are paid. It is important for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Jones Road East To West?

The current guideline value for Jones Road East To West is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 781 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, which is an overall increase of 1168%.

What is the land classification for Jones Road East To West?

Jones Road East To West is classified as Residential Special Type - I under the Thiyagaraya nagar SRO.

Where can I find the Thiyagaraya nagar Sub Registrar Office?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Mambalam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 at a rate of 7%.