Guideline Value for Jakir Usan Street (S.M.BLOCK)

Jakir Usan Street (S.M.BLOCK) guideline value

The current guideline value of Jakir Usan 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 Usan Street (S.M.BLOCK) has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure saw a decrease to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 3,000 per sq.ft. The latest revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Jakir Usan Street (S.M.BLOCK). Overall, comparing the 2012 and 2024 revisions shows a modest increase of 10% in the guideline value.

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 for these streets is Rs 4,900 per sq.ft, placing Jakir Usan Street (S.M.BLOCK) below this median.

• Jakir Hussain Street Ch-78: Rs 3,300 per sq.ft (2024)
• Jakir Hussain 2nd 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 Usan 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 amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that 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 details.

Which Sub Registrar Office covers Jakir Usan Street (S.M.BLOCK)?

The Sub Registrar Office that covers Jakir Usan 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It determines the minimum value at which a property must be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and reflects the true value of the property being exchanged.

Frequently asked questions

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

The current guideline value of Jakir Usan 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. It increased by 49% from Rs 2,010 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2023.

Where can I find the registration office for Jakir Usan Street?

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

What is the stamp duty rate in Tamil Nadu?

The stamp duty rate in Tamil Nadu is typically 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

What is the median guideline value in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, which is higher than the current value of Jakir Usan Street (S.M.BLOCK).