Guideline Value for JUDGE JUMBULINGAM STREET

Judge Jumbulingam Street guideline value

The current guideline value of Judge Jumbulingam Street is Rs 13,200 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 II Type - I.

How the guideline value of Judge Jumbulingam Street has changed

The guideline value for Judge Jumbulingam Street has seen several revisions over the years. The 2012 revision set the value at Rs 12,000 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision increased the guideline value to Rs 13,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2017.

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 guideline value in this area is Rs 8,800 per sq.ft, making the guideline value of Judge Jumbulingam Street above that median.

• Justice Sundaram Salai: Rs 9,300 per sq.ft (2024)
• Kabaleeswarar East Kulam Street: Rs 8,800 per sq.ft (2024)
• Kabaleeswarar East Mada Street: Rs 13,200 per sq.ft (2024)
• Kabaleeswarar North Mada Street: Rs 11,500 per sq.ft (2024)
• Kabaleeswarar Sannathi Street: Rs 15,400 per sq.ft (2024)
• Kabaleeswarar South Mada Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Judge Jumbulingam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total cost to Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Judge Jumbulingam Street?

The Sub Registrar Office that covers Judge Jumbulingam Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mylapore. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the higher of the guideline value or the sale price is considered for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Judge Jumbulingam Street?

The current guideline value of Judge Jumbulingam Street 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 increased from Rs 12,000 per sq.ft in 2012 to Rs 13,200 per sq.ft in 2024, reflecting a 10% increase. There were no changes recorded for the years 2003, 2007, and 2017.

What is the land classification for Judge Jumbulingam Street?

Judge Jumbulingam Street is classified as Residential Class II Type - I. This classification is important for understanding the type of development permitted in the area.

What are the stamp duty rates for properties in Mylapore?

The stamp duty rate for properties in Mylapore is typically 7%, while the registration fee is 2%. These rates apply to the higher of the guideline value or the sale price of the property.

How can I find the Sub Registrar Office for my property?

The Sub Registrar Office for Judge Jumbulingam Street is the Mylapore Sub Registrar Office. You can find more information about your specific SRO by visiting the relevant online resources.