Guideline Value for Jaibeem Nagar 2nd Street

Jaibeem Nagar 2nd Street guideline value

The current guideline value of Jaibeem Nagar 2nd 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 2nd Street has changed

The guideline value for Jaibeem Nagar 2nd Street has undergone several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which increased to Rs 1,600 per sq.ft in 2012. However, there was a significant drop to Rs 1,072 per sq.ft in the 2017 revision. The value then rose sharply to Rs 1,600 per sq.ft in 2023, before reaching the current value of Rs 1,700 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it saw a rise of 6%. Overall, the guideline value has increased by 113% from the 2007 revision to the 2024 revision. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Sembiam

In Sembiam, there are a total of 250 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Jaibeem Nagar 2nd Street's current value below that median.

• Jaibeem Nagar 1st 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 2nd 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 duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jaibeem Nagar 2nd Street?

The Sub Registrar Office that covers Jaibeem Nagar 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for additional information.

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

The guideline value is a crucial factor during the registration of properties in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees applicable to property transactions. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the necessary fees, which can significantly impact the total cost of the transaction. It is essential for both parties to understand how the guideline value affects their financial obligations during the buying or selling process.

Frequently asked questions

What is the current guideline value of Jaibeem Nagar 2nd Street?

The current guideline value of Jaibeem Nagar 2nd Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased by 113%, rising from Rs 800 per sq.ft to the current Rs 1,700 per sq.ft in 2024.

What is the land classification for Jaibeem Nagar 2nd Street?

Jaibeem Nagar 2nd Street is classified as Residential Class II Type - II.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the stamp duty rate in Sembiam?

The stamp duty rate in Sembiam is 7%, which is applied to the guideline value or the sale price, whichever is higher.