Guideline Value for Jaganathan Salai Lane

Jaganathan Salai Lane guideline value

The current guideline value of Jaganathan Salai Lane is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Jaganathan Salai Lane has changed

The guideline value for Jaganathan Salai Lane has seen several revisions over the years. In the 2007 revision, the value was set at Rs 1,000 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in the 2012 revision, followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then rose sharply to Rs 2,500 per sq.ft in the 2023 revision, and currently stands at Rs 2,700 per sq.ft from the 2024 revision. The changes between these revisions are notable: from 2007 to 2012, there was an increase of 150%, followed by a decrease of 33% from 2012 to 2017, and then an increase of 49% from 2017 to 2023, culminating in an 8% increase from 2023 to 2024.

The register has no figures for the years 2002 and 2003 for this street. Overall, the guideline value has increased by 170% from 2007 to 2024.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, making the current value of Jaganathan Salai Lane below this median.

• Jaganathan Salai: Rs 3,301 per sq.ft (2024)
• Jaganathan Street (Sundararaja Perumal Colony): Rs 4,200 per sq.ft (2024)
• Jaganathan Street (Vetri Nagar): Rs 4,200 per sq.ft (2024)
• Jawahar Nagar 10 Feet Road: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar 1st Circular Road: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar 1st Cross 1st Lane: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jaganathan Salai Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jaganathan Salai Lane?

The Sub Registrar Office that covers Jaganathan Salai Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Peravallur. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property sale. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the current guideline value, as it can significantly impact the overall costs involved in the transaction. Understanding these values helps buyers and sellers make informed decisions during the property registration process.

Frequently asked questions

What is the current guideline value of Jaganathan Salai Lane?

The current guideline value of Jaganathan Salai Lane is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 1,000 per sq.ft in 2007, increasing to Rs 2,500 in 2012, then decreasing to Rs 1,675 in 2017, rising again to Rs 2,500 in 2023, and finally reaching Rs 2,700 in 2024.

What is the median guideline value for streets in Peravallur?

The median guideline value for streets in Peravallur is Rs 3,301 per sq.ft as per the 2024 revision.

What are the stamp duty rates for property in Jaganathan Salai Lane?

The stamp duty for property in Jaganathan Salai Lane is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Jaganathan Salai Lane?

The Sub Registrar Office for Jaganathan Salai Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.