Guideline Value for Jagadeesan Street

Jagadeesan Street guideline value

The current guideline value of Jagadeesan Street in Ayappakkam village, under the Ambattur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Jagadeesan Street has changed

The guideline value for Jagadeesan Street has seen several revisions over the years. In 2003, the guideline value was Rs 100 per sq.ft. This increased to Rs 400 per sq.ft in 2007, marking a significant rise of 300%. The value then rose to Rs 1,000 per sq.ft in 2012, reflecting a 150% increase from the previous revision. However, in 2017, the value dropped to Rs 670 per sq.ft, a decrease of 33%. The guideline value increased again to Rs 1,000 per sq.ft in 2023, followed by a further increase to Rs 1,100 per sq.ft in 2024, which is a rise of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 1000%. It is important to note that there is no figure available for the year 2002 in the register 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 guideline value in this area is Rs 1,300 per sq.ft, placing Jagadeesan Street's 2024 figure below that median.

• Jagadeesan Street(Bhavani nagar): Rs 1,600 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jagadeesan Street?

The Sub Registrar Office that covers Jagadeesan Street 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Ayappakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value is referenced to calculate the applicable fees. If the sale price of the property is higher than the guideline value, the stamp duty and registration fees will be based on the sale price instead.

Frequently asked questions

What is the current guideline value of Jagadeesan Street?

The current guideline value of Jagadeesan Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1000% over this period.

What is the land classification for Jagadeesan Street?

Jagadeesan Street falls under the Residential Class I Type - II land classification.

Where can I find the Sub Registrar Office for Jagadeesan Street?

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

How is stamp duty calculated for properties in Jagadeesan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.