Guideline Value for Jambulingam Road

Jambulingam Road guideline value

The current guideline value of Jambulingam Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This road is located in Nungambakkam village and falls under the Chennai Central Joint II SRO, classified as Residential Special Type - II.

How the guideline value of Jambulingam Road has changed

The guideline value for Jambulingam Road has seen several revisions over the years. In 2007, the guideline value was Rs 3,000 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012. However, it then decreased to Rs 5,360 per sq.ft in 2017. The value rose to Rs 8,000 per sq.ft again in 2023, and most recently, it has increased to Rs 8,800 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has increased by 193%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value is Rs 8,800 per sq.ft, which is the same as the guideline value for Jambulingam Road.

• Jaganathan Street: Rs 8,800 per sq.ft (2024)
• Jaganathan Road: Rs 9,900 per sq.ft (2024)
• Jayalakshmipuram 1st Street: Rs 7,700 per sq.ft (2024)
• Jayalakshmipuram 2nd Street: Rs 7,700 per sq.ft (2024)
• Jayalakshmipuram 3rd Street: Rs 7,700 per sq.ft (2024)
• Jayalakshmipuram 4th Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jambulingam Road

For a 1,000 sq.ft plot at the current rate of Rs 8,800 per sq.ft, the guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. 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 Jambulingam Road?

The Sub Registrar Office that covers Jambulingam Road is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Nungambakkam. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When a property is sold, the guideline value serves as a benchmark, ensuring that the property is not undervalued. Buyers and sellers must consider this value to comply with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Jambulingam Road?

The current guideline value of Jambulingam Road is Rs 8,800 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 2007 to Rs 8,800 per sq.ft in 2024, with various revisions in between, including a decrease and subsequent increases.

What is the land classification for Jambulingam Road?

Jambulingam Road is classified as Residential Special Type - II under the Chennai Central Joint II SRO.

Where can I find the registration office for Jambulingam Road?

The registration office for Jambulingam Road is the Chennai Central Joint II Sub Registrar Office located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for properties on Jambulingam Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 88,00,000 would incur a stamp duty of Rs 6,16,000 at 7%.