Guideline Value for Jagajeevanram Street

Jagajeevanram Street guideline value

The current guideline value of Jagajeevanram Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Jagajeevanram Street has changed

The guideline value for Jagajeevanram Street has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 130 per sq.ft. This increased to Rs 400 per sq.ft in 2007, marking a significant rise of 208%. The value then surged to Rs 2,000 per sq.ft in 2012, a remarkable increase of 400%. However, it dropped to Rs 1,340 per sq.ft in 2017, reflecting a decrease of 33%. The most recent revisions show the value at Rs 2,000 per sq.ft in 2023, followed by a rise to Rs 2,200 per sq.ft in 2024, which is an increase of 10%.

There is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 1592%, highlighting the significant changes over the years.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Jagajeevanram Street's 2024 figure below this median.

• I.H.F.D. Colony: Rs 4,950 per sq.ft (2024)
• Hussian Basha Street: Rs 3,850 per sq.ft (2024)
• Hussian Basha Cross Street: Rs 3,850 per sq.ft (2024)
• Hussian Basha 2ND Cross Street: Rs 3,850 per sq.ft (2024)
• Hussian Basha 1ST Cross Street: Rs 3,850 per sq.ft (2024)
• Hemanatha Pillai Avenue Ramlingar Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Jagajeevanram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 detailed calculations.

Which Sub Registrar Office covers Jagajeevanram Street?

The Sub Registrar Office covering Jagajeevanram Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Issa Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair value as per the government regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for completing the registration process. Buyers and sellers must be aware of these values to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Jagajeevanram Street?

The current guideline value of Jagajeevanram Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 130 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1592% over the years.

What is the registration office for Jagajeevanram Street?

The registration office for Jagajeevanram Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty and registration fees for properties in Jagajeevanram Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 1,54,000, and the registration fee is Rs 44,000, totaling Rs 1,98,000.

How is the guideline value determined for properties in Issa Pallavaram?

The guideline value is determined by the Registration Department and varies by street, reflecting market conditions and land classifications. It serves as the minimum value for property registration in the area.