Guideline Value for Jamunabai Nagar 1st Street

Jamunabai Nagar 1st Street guideline value

The current guideline value of Jamunabai Nagar 1st Street is Rs 3,500 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Jamunabai Nagar 1st Street has changed

The guideline value for Jamunabai Nagar 1st Street has seen various revisions over the years. In 2002, the value was Rs 319 per sq.ft, which increased to Rs 700 per sq.ft in 2007. Following that, the value surged to Rs 3,200 per sq.ft in 2012, before dropping to Rs 2,144 per sq.ft in 2017. The value then rose significantly to Rs 3,200 per sq.ft in 2023, and currently stands at Rs 3,500 per sq.ft as of the 2024 revision.

Notably, the changes between the revisions indicate a +997% increase from 2002 to 2024. The most significant change occurred from 2007 to 2012, with an increase of +357%. However, there is no figure available for the year 2003 in the register for this street.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Jamunabai Nagar 1st Street is above this median.

• Jamunabai Nagar 2nd Street: Rs 3,500 per sq.ft (2024)
• Jamaliya Lane: Rs 1,700 per sq.ft (2024)
• Janakiram Nagar 1st Cross Street: Rs 3,500 per sq.ft (2024)
• Janakiram Nagar 1st Main Road: Rs 3,500 per sq.ft (2024)
• Janakiram Nagar 2nd Cross Street: Rs 3,500 per sq.ft (2024)
• Janakiram Nagar 2nd Main Road: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Jamunabai Nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 3,500 per sq.ft, the guideline value would be Rs 35,00,000. The stamp duty at 7% would amount to Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, totaling Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jamunabai Nagar 1st Street?

The Sub Registrar Office that covers Jamunabai Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Sembiam. It is the basis for calculating the stamp duty and registration fees, which are mandatory when buying or selling property in the area.

When a property is registered, the authorities will assess the guideline value to determine the applicable fees. Buyers should be aware that the charges are based on the higher of the guideline value or the sale price to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Jamunabai Nagar 1st Street?

The current guideline value of Jamunabai Nagar 1st Street is Rs 3,500 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 319 per sq.ft in 2002 to Rs 3,500 per sq.ft in 2024, showing a total increase of +997% over this period.

What is the land classification for Jamunabai Nagar 1st Street?

Jamunabai Nagar 1st Street is classified as Residential Special Type - II, which indicates its designated use for residential purposes.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles property registrations in the area.

How is stamp duty calculated for properties in Sembiam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the fees reflect the true value of the transaction during registration.