Guideline Value for Jameela Avenue

Jameela Avenue guideline value

The current guideline value of Jameela Avenue is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO, and falls under the Residential Class V Type - III land classification.

How the guideline value of Jameela Avenue has changed

The guideline value for Jameela Avenue has seen several revisions over the years. In 2002, the value was Rs 320 per sq.ft, which increased to Rs 400 per sq.ft in 2003, marking a 25% rise. The value then rose significantly to Rs 1,000 per sq.ft in 2007, reflecting a 150% increase. Following this, in 2012, the value was Rs 1,500 per sq.ft, which was a 50% increase from the previous revision. However, in 2017, it dropped to Rs 1,005 per sq.ft, representing a decline of 33%. The value then increased to Rs 1,500 per sq.ft in 2023, before reaching the current value of Rs 1,700 per sq.ft in 2024, which is a 13% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 431%. There are no figures available for the revisions in years not listed in the register for this street.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 8,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. Jameela Avenue's 2024 figure is below this median.

• Jaganathan Street/Road (Lakshmana Perumal Nagar): Rs 4,400 per sq.ft (2024)
• Judges Colony: Rs 4,400 per sq.ft (2024)
• Kalathu Mettu 1st Cross Lane: Rs 2,200 per sq.ft (2024)
• Kalathu Mettu 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Kalathu Mettu 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Kalathu Mettu 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jameela Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. 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 further assistance.

Which Sub Registrar Office covers Jameela Avenue?

The Sub Registrar Office that covers Jameela Avenue is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid. Buyers and sellers must ensure that the sale price is either equal to or higher than the guideline value to comply with registration norms.

When a property is sold, the guideline value helps in calculating the necessary fees, ensuring that both parties are aware of the financial implications of the transaction. This transparency is essential for a smooth registration process.

Frequently asked questions

What is the current guideline value of Jameela Avenue?

The current guideline value of Jameela Avenue is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 320 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 431% over this period.

What is the land classification for Jameela Avenue?

Jameela Avenue falls under the Residential Class V Type - III land classification.

What are the stamp duty and registration fees for properties in Jameela Avenue?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where is the Sub Registrar Office for Jameela Avenue located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.