Guideline Value for Jaishankar Street

Jaishankar Street guideline value

The current guideline value of Jaishankar Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class III Type - I.

How the guideline value of Jaishankar Street has changed

Since the 2007 revision, the guideline value for Jaishankar Street has seen significant changes. In 2007, the value was Rs 1,460 per sq.ft, which increased dramatically to Rs 5,000 per sq.ft in 2012, marking a rise of 242%. However, by 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 277%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, placing Jaishankar Street's current value above this median.

• Jakir Hussain 2nd Street(S.M.BLOCK): Rs 3,300 per sq.ft (2024)
• Jakir Hussain Street Ch-78: Rs 3,300 per sq.ft (2024)
• Jakir Usan Street (S.M.BLOCK): Rs 3,300 per sq.ft (2024)
• Jaibalaji Nagar 180-250 Extension: Rs 4,100 per sq.ft (2024)
• Jaibalaji Nagar: Rs 4,100 per sq.ft (2024)
• Janakiraman Street Block 78: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Jaishankar Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 55,00,000. The stamp duty at 7% amounts to Rs 3,85,000, and the registration fee at 2% is Rs 1,10,000, totaling Rs 4,95,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jaishankar Street?

The Sub Registrar Office that covers Jaishankar Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees during the buying or selling process. Buyers and sellers should be aware that the guideline value is a key factor in calculating the costs associated with property registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the current market standards as set by the local authorities.

Frequently asked questions

What is the current guideline value of Jaishankar Street?

The current guideline value of Jaishankar Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,460 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 277%.

What is the land classification of Jaishankar Street?

Jaishankar Street is classified as Residential Class III Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for a property on Jaishankar Street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where is the Sub Registrar Office for Jaishankar Street located?

The Sub Registrar Office for Jaishankar Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.