Guideline Value for Jadkhapuram

Jadkhapuram guideline value

The current guideline value of Jadkhapuram is Rs 4,800 per sq.ft, effective from 1 July 2024. This area is located in Vepery village, under the Periamet Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - II.

How the guideline value of Jadkhapuram has changed

The guideline value for Jadkhapuram has undergone several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which saw a significant increase to Rs 4,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 3,015 per sq.ft in 2017. The 2023 revision marked an increase to Rs 4,500 per sq.ft, and the latest 2024 revision has set the value at Rs 4,800 per sq.ft.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 463%, but then it decreased by 33% from 2012 to 2017. A substantial increase of 49% occurred from 2017 to 2023, followed by a 7% rise from 2023 to 2024. Overall, the guideline value has increased by 500% from 2007 to 2024.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value is Rs 4,800 per sq.ft, which is equal to the guideline value of Jadkhapuram.

• Irusappan Street: Rs 8,800 per sq.ft (2024)
• Hunters Road(or)ThirunarayanaGuru street: Rs 11,000 per sq.ft (2024)
• Gurusamy Nagar Backside: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 9th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 8th street: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar 7th street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jadkhapuram

For a 1,000 sq.ft plot at the current rate of Rs 4,800 per sq.ft, the guideline value amounts to Rs 48,00,000. The stamp duty at 7% would be Rs 3,36,000, and the registration fee at 2% would be Rs 96,000, totaling Rs 4,32,000. 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 information.

Which Sub Registrar Office covers Jadkhapuram?

The Sub Registrar Office that covers Jadkhapuram is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vepery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jadkhapuram?

The current guideline value of Jadkhapuram is Rs 4,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,800 per sq.ft in 2024, reflecting an overall increase of 500% over the years.

What is the land classification for Jadkhapuram?

Jadkhapuram is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Periamet Sub Registrar Office?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated in Jadkhapuram?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.