Guideline Value for Javahar Street

Javahar Street guideline value

The current guideline value of Javahar Street in Virugambakkam village is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Virugambakkam SRO and is classified as Residential Class III Type - II.

How the guideline value of Javahar Street has changed

The guideline value for Javahar Street has undergone several revisions over the years. In 2002, the value was Rs 414 per sq.ft, which increased to Rs 459 per sq.ft in 2003. Following that, there was a significant rise to Rs 1,100 per sq.ft in 2007, and then it reached Rs 3,500 per sq.ft in 2012. However, this figure dropped to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,850 per sq.ft for the 2024 revision.

Between these revisions, the changes were notable. From 2002 to 2003, the increase was +11%. The value surged by +140% from 2003 to 2007, followed by a +218% rise from 2007 to 2012. The value then saw a decrease of -33% from 2012 to 2017. From 2017 to 2023, there was a +49% increase, and finally, from 2023 to 2024, the rise was +10%. Overall, from 2002 to 2024, the guideline value has increased by +830%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Javahar Street's 2024 figure below that median.

• Jayalakshmi Street: Rs 3,850 per sq.ft (2024)
• Jaibalaji Nagar: Rs 2,750 per sq.ft (2024)
• Jeevanandham Street: Rs 4,400 per sq.ft (2024)
• INDIRA NAGAR 6th Cross Street: Rs 2,750 per sq.ft (2024)
• INDIRA NAGAR 5th Street: Rs 2,750 per sq.ft (2024)
• INDIRA NAGAR 5th Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Javahar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. 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 Javahar Street?

The Sub Registrar Office that covers Javahar Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the fees based on either the guideline value or the sale price, depending on which is higher. This ensures that the correct amount of duty is paid during the registration process.

Frequently asked questions

What is the current guideline value of Javahar Street?

The current guideline value of Javahar Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 414 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of +830% over this period.

What is the land classification for Javahar Street?

Javahar Street is classified as Residential Class III Type - II under the current guidelines.

What are the stamp duty and registration fees for property in Javahar Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000, leading to a stamp duty of Rs 2,69,500 and a registration fee of Rs 77,000, totaling Rs 3,46,500.

Where is the Sub Registrar Office for Javahar Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.