Guideline Value for Jakir Hussain 2nd Street(S.M.BLOCK)

Jakir Hussain 2nd Street(S.M.BLOCK) guideline value

The current guideline value of Jakir Hussain 2nd Street(S.M.BLOCK) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Jakir Hussain 2nd Street(S.M.BLOCK) has changed

The guideline value for Jakir Hussain 2nd Street(S.M.BLOCK) has seen several revisions over the years. In the 2012 revision, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value significantly increased by 49% to reach Rs 3,000 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the 2012 figure to the 2024 figure shows a 10% increase over the twelve years.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, indicating that Jakir Hussain 2nd Street(S.M.BLOCK) has a guideline value below this median.

• 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)
• Jaishankar Street: Rs 5,500 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 Jakir Hussain 2nd Street(S.M.BLOCK)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, resulting in a total cost of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jakir Hussain 2nd Street(S.M.BLOCK)?

The Sub Registrar Office that covers Jakir Hussain 2nd Street(S.M.BLOCK) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. When you buy or sell property, the registration office uses this value to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership.

It is essential to be aware that the guideline value may differ from the actual sale price of the property. In cases where the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Jakir Hussain 2nd Street(S.M.BLOCK)?

The current guideline value of Jakir Hussain 2nd Street(S.M.BLOCK) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a 10% increase. It was Rs 2,010 per sq.ft in 2017, which was a 49% increase from the previous value of Rs 3,000 per sq.ft in 2012.

What is the land classification for Jakir Hussain 2nd Street(S.M.BLOCK)?

The land classification for Jakir Hussain 2nd Street(S.M.BLOCK) is Residential Class IV Type - II.

Where can I find the registration office for Jakir Hussain 2nd Street(S.M.BLOCK)?

The registration office for Jakir Hussain 2nd Street(S.M.BLOCK) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.