Guideline Value for Jaibeem Nagar 1st Street

Jaibeem Nagar 1st Street guideline value

The current guideline value of Jaibeem Nagar 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Jaibeem Nagar 1st Street has changed

Over the years, the guideline value of Jaibeem Nagar 1st Street has seen significant changes. The earliest recorded figure was Rs 341 per sq.ft in 2002, which increased to Rs 800 per sq.ft in 2007, marking a substantial rise of 135%. In 2012, the value was Rs 1,600 per sq.ft, but it dropped by 33% to Rs 1,072 per sq.ft in 2017. The value then increased dramatically to Rs 1,600 per sq.ft in 2023, followed by a further increase to the current rate of Rs 1,700 per sq.ft in 2024, reflecting a 6% rise.

The 2024 revision shows a 399% increase from the 2002 figure. Notably, the register has no figure for Jaibeem Nagar 1st Street in 2003.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Jaibeem Nagar 1st Street's 2024 figure is below this median.

• Jaibeem Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Jaibeem Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Jamaliya Lane: Rs 1,700 per sq.ft (2024)
• Jamunabai Nagar 1st Street: Rs 3,500 per sq.ft (2024)
• Jamunabai Nagar 2nd Street: Rs 3,500 per sq.ft (2024)
• Janakiram Nagar 1st Cross Street: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Jaibeem Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jaibeem Nagar 1st Street?

Jaibeem Nagar 1st Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a buyer and seller agree on a sale price, the higher of the sale price and the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jaibeem Nagar 1st Street?

The current guideline value of Jaibeem Nagar 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly, from Rs 341 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, marking a total increase of 399% over this period.

What are the stamp duty and registration fees for property in Jaibeem Nagar 1st Street?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles registrations for Jaibeem Nagar 1st Street?

The Sembiam Sub Registrar Office handles registrations for Jaibeem Nagar 1st Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Jaibeem Nagar 1st Street?

Jaibeem Nagar 1st Street is classified as Residential Class II Type - II, indicating its designation for residential use.