Guideline Value for Jason Street

Jason Street guideline value

The current guideline value of Jason Street, located in Muthiyalpet village under the Sowcarpet SRO, is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - III.

How the guideline value of Jason Street has changed

In the 2003 revision, the guideline value for Jason Street was Rs 1,110 per sq.ft. This figure increased to Rs 1,600 per sq.ft in the 2007 revision, marking a rise of 44%. The 2012 revision saw a significant increase to Rs 4,500 per sq.ft, which was a 181% jump from the previous figure. However, in 2017, the guideline value decreased to Rs 3,015 per sq.ft, reflecting a decline of 33%.

In the 2023 revision, the value rose to Rs 4,500 per sq.ft, and the most recent 2024 revision set the value at Rs 4,900 per sq.ft, indicating a 9% increase. Overall, from 2003 to 2024, the guideline value has increased by 341%. The register has no figure for the year 2002 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Jason Street's 2024 figure above this median.

• Isaac Street: Rs 4,400 per sq.ft (2024)
• Jintha Sahib Street: Rs 4,400 per sq.ft (2024)
• Hussain Sahib Street: Rs 3,800 per sq.ft (2024)
• Kalappa Achari Street: Rs 4,400 per sq.ft (2024)
• Kalathi Pillai Street: Rs 4,900 per sq.ft (2024)
• Hacker Jason Lane: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Jason Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to note that 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 Jason Street?

The Sub Registrar Office that covers Jason Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

When buying or selling property in Muthiyalpet, the guideline value is a crucial factor in determining the stamp duty and registration fees. It serves as a benchmark for the minimum value at which properties are registered, ensuring that the government receives the appropriate revenue from property transactions.

The guideline value is also used to assess the market value of properties in the area, influencing the pricing strategies of buyers and sellers. It is essential for both parties to be aware of the current guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Jason Street?

The current guideline value of Jason Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 1,110 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 341% over the years.

What is the median guideline value in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, with Jason Street's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in Jason Street?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Where is the Sub Registrar Office for Jason Street located?

The Sowcarpet Sub Registrar Office, which covers Jason Street, is located at No.11, Davidson Street, Sowcarpet, Chennai-01.