Guideline Value for Jagathambal Avenue

Jagathambal Avenue guideline value

The current guideline value of Jagathambal Avenue in Sundaracholavaram village, under the Kunrathur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Jagathambal Avenue has changed

The guideline value for Jagathambal Avenue has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 298 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a rise of 168%. However, in the 2017 revision, the value dropped to Rs 536 per sq.ft, a decrease of 33%. The value then rose again to Rs 800 per sq.ft in 2023, followed by a further increase to Rs 880 per sq.ft in 2024, reflecting a 10% change.

From 2017 to 2023, there was a notable increase of 49%, leading to the current value of Rs 880 per sq.ft. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 195%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Sundaracholavaram

Sundaracholavaram has a total of 57 streets under the Kunrathur SRO, with 2024 guideline values ranging from Rs 550 to Rs 4,600 per sq.ft. The median value for these streets is Rs 660 per sq.ft, placing Jagathambal Avenue's 2024 value above the median.

• Gramani Street: Rs 550 per sq.ft (2024)
• Gold Mine By Urban Tree Phase-II: Rs 4,070 per sq.ft (2024)
• Gold Mine By Urban Tree: Rs 3,610 per sq.ft (2024)
• Kasthuri Bai Nagar, Avenue & Extension: Rs 880 per sq.ft (2024)
• Kasthuri Bai Nagar - I: Rs 880 per sq.ft (2024)
• Kasthuri Bai Nagar - II: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Jagathambal Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. Please note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jagathambal Avenue?

The Sub Registrar Office covering Jagathambal Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Sundaracholavaram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. 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 Jagathambal Avenue?

The current guideline value of Jagathambal Avenue is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 298 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 195% over the years.

What are the stamp duty and registration fees for properties in Jagathambal Avenue?

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office is responsible for Jagathambal Avenue?

The Kunrathur Sub Registrar Office is responsible for Jagathambal Avenue, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for both buyers and sellers to be aware of this value to ensure compliance with legal requirements.