Guideline Value for James Street

James Street guideline value

The current guideline value of James Street in Paruthivakkam village is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Alandur Sub Registrar Office and is classified as Residential Class I Type - III.

How the guideline value of James Street has changed

The guideline value of James Street has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 800 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking a 213% rise. However, the value then decreased to Rs 1,675 per sq.ft in the 2017 revision, reflecting a decline of 33%. The following revision in 2023 saw the value increase to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,800 per sq.ft, which is a 12% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 250%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Paruthivakkam

In Paruthivakkam, there are 14 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for James Street is below this median.

• Chithi Vinayagar Street: Rs 3,900 per sq.ft (2024)
• Madhurai Naiken Street (Madurai Street): Rs 4,400 per sq.ft (2024)
• Margo Lane (Margoss Lane): Rs 2,800 per sq.ft (2024)
• Margo Street (Margoss Street): Rs 2,800 per sq.ft (2024)
• Mettu Palayam (Eruppu Padhai): Rs 5,500 per sq.ft (2024)
• Mettu Street/Paris Apts.,: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in James Street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers James Street?

The Sub Registrar Office that covers James 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 Paruthivakkam

The guideline value plays a crucial role during the registration of property transactions in Paruthivakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the higher value between the guideline value and the sale price is considered for calculating the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of James Street?

The current guideline value of James Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value of James Street changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting significant fluctuations over the years.

What is the land classification for James Street?

James Street is classified as Residential Class I Type - III.

Which office handles registrations for James Street?

The Alandur Sub Registrar Office handles registrations for James Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in James Street?

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For example, for a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at a rate of 7%.