Guideline Value for Jal Naiken Street

Jal Naiken Street guideline value

The current guideline value of Jal Naiken Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Alandur village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Jal Naiken Street has changed

The guideline value for Jal Naiken Street has seen several revisions over the years. In 2002, the value was Rs 373 per sq.ft, which increased to Rs 405 per sq.ft in 2003, marking a 9% rise. The value continued to climb, reaching Rs 1,000 per sq.ft in 2007, a significant increase of 147%. By 2012, the value was Rs 4,000 per sq.ft, reflecting a 300% jump from the previous revision. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%.

From 2017 to 2023, the guideline value increased by 49%, bringing it to Rs 4,000 per sq.ft. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, an increase of 10% from the previous year. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Alandur

Alandur village has a range of guideline values, with 40 streets under the Alandur SRO carrying a 2024 figure between Rs 3,900 and Rs 11,000 per sq.ft. The median value for these streets is Rs 5,000 per sq.ft, placing Jal Naiken Street's 2024 figure below that median.

• Jilani sayabu Street: Rs 4,400 per sq.ft (2024)
• Ibrahim Street: Rs 4,400 per sq.ft (2024)
• Hussain Subedar Street: Rs 4,400 per sq.ft (2024)
• Gurupax Street: Rs 4,400 per sq.ft (2024)
• Kaji Sayabu Street: Rs 4,400 per sq.ft (2024)
• G.S.T. RoadSOUTH SIDE LAWYER JAGANATHAN STREET: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Jal Naiken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jal Naiken Street?

The Sub Registrar Office that covers Jal Naiken Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Alandur. It is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is documented according to the official rates set by the government.

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 necessary fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Jal Naiken Street?

The current guideline value of Jal Naiken Street is Rs 4,400 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 373 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1080% over the years.

What are the stamp duty and registration fees for property in Jal Naiken Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000, resulting in a stamp duty of Rs 3,08,000 and a registration fee of Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Jal Naiken Street?

The Alandur Sub Registrar Office covers Jal Naiken Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Jal Naiken Street?

Jal Naiken Street is classified as Residential Class I Type - III, indicating its designation for residential use within the Alandur area.