Guideline Value for Jagadeesan Street(Bhavani nagar)

Jagadeesan Street(Bhavani nagar) guideline value

The current guideline value of Jagadeesan Street(Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Jagadeesan Street(Bhavani nagar) has changed

Over the years, the guideline value of Jagadeesan Street(Bhavani nagar) has seen significant changes. The 2007 revision recorded a value of Rs 400 per sq.ft, which increased dramatically to Rs 1,500 per sq.ft in 2012, marking a rise of 275%. However, the value then dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 1,500 per sq.ft, which then increased to Rs 1,600 per sq.ft in 2024, reflecting a change of 7%.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing Jagadeesan Street(Bhavani nagar) above that median at Rs 1,600 per sq.ft.

• Jagadeesan Street: Rs 1,100 per sq.ft (2024)
• Iyappan street(Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Iyappan street 2nd Cross Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Iyappan street 1st Cross Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Jain Nagar: Rs 880 per sq.ft (2024)
• Jain Nagar (Jayalalitha street): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Jagadeesan Street(Bhavani nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jagadeesan Street(Bhavani nagar)?

The Sub Registrar Office that covers Jagadeesan Street(Bhavani nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Ayappakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate 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 Jagadeesan Street(Bhavani nagar)?

The current guideline value of Jagadeesan Street(Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 300%.

What is the land classification for Jagadeesan Street(Bhavani nagar)?

The land classification for Jagadeesan Street(Bhavani nagar) is Residential Special Type - III.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Jagadeesan Street(Bhavani nagar) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.