Guideline Value for Jaibeem Nagar 3rd Street

Jaibeem Nagar 3rd Street guideline value

The current guideline value of Jaibeem Nagar 3rd 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 falls under the Residential Class II Type - II land classification.

How the guideline value of Jaibeem Nagar 3rd Street has changed

The guideline value for Jaibeem Nagar 3rd Street has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased to Rs 1,600 per sq.ft in 2012. However, it decreased to Rs 1,072 per sq.ft in 2017. The value then rose significantly to Rs 1,600 per sq.ft in 2023, before reaching the current value of Rs 1,700 per sq.ft in 2024, marking a 6% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from 2007 to 2024 reflects an increase of 113%. It is important to note that the register has no figures for Jaibeem Nagar 3rd Street for the years 2002 and 2003.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO, with guideline values ranging from Rs 1,700 to Rs 7,100 per sq.ft as of 2024. The median value is Rs 2,700 per sq.ft, positioning Jaibeem Nagar 3rd Street's 2024 guideline value below this median.

• Jaibeem Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Jaibeem Nagar 1st 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 3rd Street

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

You can use the stamp duty and registration fee calculator for more information on fees applicable to your property transaction.

Which Sub Registrar Office covers Jaibeem Nagar 3rd Street?

The Sub Registrar Office covering Jaibeem Nagar 3rd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Sembiam. It is used to determine the stamp duty and registration fees that buyers and sellers must pay during the registration process. The guideline value is set by the Registration Department and is intended to reflect the value of properties in a specific area.

When a property is bought or sold, the higher value between the guideline value and the sale price is taken into account for calculating the applicable duties and 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 3rd Street?

The current guideline value of Jaibeem Nagar 3rd 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 changed from Rs 800 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 113% over the years.

What are the stamp duty and registration fees for properties in this area?

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 Sub Registrar Office handles transactions for Jaibeem Nagar 3rd Street?

The Sembiam Sub Registrar Office at 5, Papermills Road, Sembiam, Chennai - 600011, handles transactions for Jaibeem Nagar 3rd Street.

What is the land classification for Jaibeem Nagar 3rd Street?

Jaibeem Nagar 3rd Street is classified under Residential Class II Type - II as per the current regulations.