Guideline Value for Javer Street(Gopal Chetty Street)

Javer Street(Gopal Chetty Street) guideline value

The current guideline value of Javer Street (Gopal Chetty Street) is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Javer Street(Gopal Chetty Street) has changed

The guideline value for Javer Street (Gopal Chetty Street) has undergone several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased to Rs 3,015 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, representing a 9% increase from 2023.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 227%.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, indicating that Javer Street's 2024 figure is below this median.

• Jahangir street[2nd line Beech]: Rs 15,900 per sq.ft (2024)
• Jahangir lane*: Rs 15,900 per sq.ft (2024)
• Jaffer lane Masthan lane: Rs 4,900 per sq.ft (2024)
• Jaffar Sarang street: Rs 14,800 per sq.ft (2024)
• Jaffar Sarang lane: Rs 7,700 per sq.ft (2024)
• Jones lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Javer Street(Gopal Chetty Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total cost for stamp duty and registration would be Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Javer Street(Gopal Chetty Street)?

The Sub Registrar Office that covers Javer Street (Gopal Chetty Street) is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Muthialpet. It is the minimum value set by the government for a property, which ensures that the property is not sold for less than this value. Buyers and sellers must be aware of this value as it directly impacts the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the fees are based on a standardized value that reflects the market conditions in the area, thus providing a fair basis for taxation.

Frequently asked questions

What is the current guideline value of Javer Street(Gopal Chetty Street)?

The current guideline value of Javer Street (Gopal Chetty 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 changed from Rs 1,500 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024. This represents an overall increase of 227% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. For a plot of 1,000 sq.ft, the total cost for these fees would be Rs 4,41,000.

Which Sub Registrar Office covers Javer Street(Gopal Chetty Street)?

The Chennai North Joint I Sub Registrar Office covers Javer Street (Gopal Chetty Street), located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

What is the land classification for Javer Street(Gopal Chetty Street)?

The land classification for Javer Street (Gopal Chetty Street) is Residential Class I Type - III.