Guideline Value for Jaipur Colony

Jaipur Colony guideline value

The current guideline value of Jaipur Colony, located in Mylapore Part 2 village under the Chennai Central Joint I SRO, is Rs 15,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Special Type - II.

How the guideline value of Jaipur Colony has changed

Over the years, the guideline value for Jaipur Colony has seen a significant increase. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 14,000 per sq.ft, and with the 2024 revision, it has risen to Rs 15,400 per sq.ft, marking a change of +10% from the previous year.

The 2024 guideline value of Rs 15,400 per sq.ft is notably higher than the median value of Rs 8,800 per sq.ft for the 332 streets in Mylapore Part 2 under the Chennai Central Joint I SRO. This indicates that Jaipur Colony is positioned above the median in terms of guideline value.

Guideline values in Mylapore Part 2

The village figures for Mylapore Part 2 show a range of guideline values from Rs 4,400 to Rs 25,300 per sq.ft. The following are other streets in Mylapore Part 2 with their respective 2024 guideline values:

• Jaganatha Thottam: Rs 7,700 per sq.ft (2024)
• Jayammal Street: Rs 11,000 per sq.ft (2024)
• J.J.Road: Rs 14,300 per sq.ft (2024)
• H.D.Raja Street: Rs 8,700 per sq.ft (2024)
• Gowdia Mutt Road: Rs 13,200 per sq.ft (2024)
• Gowdia Mutt Lane: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jaipur Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 15,400 per sq.ft, the total guideline value would be Rs 1,54,00,000. The stamp duty at 7% would be Rs 10,78,000, and the registration fee at 2% would be Rs 3,08,000, bringing the total to Rs 13,86,000. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Jaipur Colony?

The Sub Registrar Office that covers Jaipur Colony is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor during the registration process of property transactions in Mylapore Part 2. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point to assess the transaction value. It is important for buyers and sellers to 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 Jaipur Colony?

The current guideline value of Jaipur Colony is Rs 15,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 14,000 per sq.ft to Rs 15,400 per sq.ft, which is a change of +10%.

What is the land classification for Jaipur Colony?

The land classification for Jaipur Colony is Commercial Special Type - II, indicating its designated use for commercial activities.

Where can I find the Sub Registrar Office for Jaipur Colony?

The Sub Registrar Office for Jaipur Colony is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Jaipur Colony?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 1,54,00,000, the stamp duty would be Rs 10,78,000.