Guideline Value for Jahangir lane*

Jahangir lane* guideline value

The current guideline value of Jahangir lane* is Rs 15,900 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Jahangir lane* has changed

The guideline value of Jahangir lane* has seen several revisions over the years. In 2002, the value was Rs 3,557 per sq.ft, which increased to Rs 4,043 per sq.ft in 2003, marking a 14% rise. The subsequent revision in 2007 saw a significant jump to Rs 5,500 per sq.ft, an increase of 36%. In 2012, the value rose to Rs 14,500 per sq.ft, reflecting a substantial 164% increase. However, it dropped to Rs 9,715 per sq.ft in 2017, a decrease of 33%. The value then increased again to Rs 14,500 per sq.ft in 2023, before reaching the current rate of Rs 15,900 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 347%. The register has no figures for revisions in years other than those listed.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median value of Rs 5,500 per sq.ft. Jahangir lane* has a guideline value above this median.

• Jahangir street[2nd line Beech]: Rs 15,900 per sq.ft (2024)
• Jaffer lane Masthan lane: Rs 4,900 per sq.ft (2024)
• Jaffar Sarang street: Rs 14,800 per sq.ft (2024)
• Jaffar Sarang lane: Rs 7,700 per sq.ft (2024)
• Javer Street(Gopal Chetty Street): Rs 4,900 per sq.ft (2024)
• Ibrahim Salai 2nd lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Jahangir lane*

For a 1,000 sq.ft plot at the current guideline value of Rs 15,900 per sq.ft, the total guideline value would be Rs 1,59,00,000. The stamp duty at 7% would amount to Rs 11,13,000, and the registration fee at 2% would be Rs 3,18,000, bringing the total charges to Rs 14,31,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jahangir lane*?

The Sub Registrar Office that covers Jahangir lane* is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Muthialpet. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the official register.

Frequently asked questions

What is the current guideline value of Jahangir lane*?

The current guideline value of Jahangir lane* is Rs 15,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,557 per sq.ft in 2002 to Rs 15,900 per sq.ft in 2024, with various revisions in between, including a peak of Rs 14,500 per sq.ft in 2023.

What is the land classification for Jahangir lane*?

The land classification for Jahangir lane* is Commercial Class I Type - II, indicating its use for commercial purposes.

Where can I find the Sub Registrar Office for Jahangir lane*?

The Sub Registrar Office for Jahangir lane* is located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

How is stamp duty calculated for properties in Jahangir lane*?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total stamp duty of Rs 11,13,000.