Guideline Value for Jain Avenue

Jain Avenue guideline value

The current guideline value of Jain Avenue is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village under the Selaiyur SRO, classified as Residential Special Type - II.

How the guideline value of Jain Avenue has changed

The guideline value for Jain Avenue has undergone several revisions over the years. The oldest recorded figure is from 2007, where the guideline value was Rs 600 per sq.ft. This increased significantly to Rs 2,200 per sq.ft in the 2012 revision, marking a 267% rise. However, in the 2017 revision, the value decreased to Rs 1,474 per sq.ft, a drop of 33%. The value then rose to Rs 2,200 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the value at Rs 2,400 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that the register does not have figures for Jain Avenue for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, positioning Jain Avenue's 2024 figure above this median.

• Jagajeevanram Nagar: Rs 2,200 per sq.ft (2024)
• Jagageevanram Street: Rs 2,200 per sq.ft (2024)
• Jagageevanram Colony: Rs 2,200 per sq.ft (2024)
• Iyyappan Street: Rs 2,400 per sq.ft (2024)
• IOB Colony 4th Main Road: Rs 3,500 per sq.ft (2024)
• IOB Colony 3rd Main Road: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Jain Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. 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 Jain Avenue?

The Sub Registrar Office covering Jain Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Selaiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that all transactions are conducted within the framework set by the government.

When buying or selling property, the guideline value helps in determining the minimum sale price for the property, which is essential for legal compliance and taxation purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Jain Avenue?

The current guideline value of Jain Avenue is Rs 2,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 600 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, representing a 300% increase over the years.

What are the stamp duty and registration fees for a property in Jain Avenue?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

Which Sub Registrar Office is responsible for Jain Avenue?

The Selaiyur Sub Registrar Office is responsible for Jain Avenue, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification of Jain Avenue?

Jain Avenue is classified as Residential Special Type - II, which influences its guideline value and property usage regulations.