Guideline Value for Jakir Hussain Street Ch-78

Jakir Hussain Street Ch-78 guideline value

The current guideline value of Jakir Hussain Street Ch-78 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 Street Ch-78 has changed

The guideline value for Jakir Hussain Street Ch-78 has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, where the value was Rs 800 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a rise of 275%. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The following revision in 2023 saw a substantial increase to Rs 3,000 per sq.ft, followed by another rise to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

In summary, from 2007 to 2024, the overall guideline value has increased by 313%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

Kodambakkam 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 Street Ch-78's 2024 figure is below this median.

• Jakir Hussain 2nd Street(S.M.BLOCK): 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 Street Ch-78

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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.

Which Sub Registrar Office covers Jakir Hussain Street Ch-78?

The Sub Registrar Office that covers Jakir Hussain Street Ch-78 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 further assistance.

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

The guideline value is a crucial factor in the registration of property transactions in Kodambakkam. It serves as a benchmark for determining 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 helps in assessing the cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher value between the guideline value and the sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Jakir Hussain Street Ch-78?

The current guideline value of Jakir Hussain Street Ch-78 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 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, which is higher than the current value of Jakir Hussain Street Ch-78.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in this area is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for Jakir Hussain Street Ch-78?

The Sub Registrar Office for Jakir Hussain Street Ch-78 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.