Guideline Value for Jawahar 1st Lane

Jawahar 1st Lane guideline value

The current guideline value of Jawahar 1st Lane is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Jawahar 1st Lane has changed

Over the years, the guideline value of Jawahar 1st Lane has seen several revisions. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. This remained unchanged until the 2023 revision, which also recorded a value of Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

Notably, there are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is the same as the current value for Jawahar 1st Lane.

• Jawahar 2nd Lane: Rs 2,700 per sq.ft (2024)
• Jawahar Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Jampuli Street: Rs 2,700 per sq.ft (2024)
• Jampuli Bharathi Street: Rs 2,700 per sq.ft (2024)
• Jampuli Bharathiar Salai: Rs 2,700 per sq.ft (2024)
• J.K.R. Nagar / Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jawahar 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total cost of Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jawahar 1st Lane?

The Sub Registrar Office that covers Jawahar 1st Lane is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

When buying or selling property in Kodungaiyur, the guideline value is a crucial factor in determining the registration fees and stamp duty. This value is set by the Registration Department and is used to calculate the applicable charges during the registration process.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures that the transaction is compliant with legal requirements and helps in avoiding any disputes related to property valuations during registration.

Frequently asked questions

What is the current guideline value of Jawahar 1st Lane?

The current guideline value of Jawahar 1st Lane is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, with no changes recorded in 2023. This represents an overall increase of 8% from 2012 to 2024.

What is the land classification of Jawahar 1st Lane?

Jawahar 1st Lane is classified as Residential Class I Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Jawahar 1st Lane?

The Madhavaram Sub Registrar Office, which covers Jawahar 1st Lane, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Jawahar 1st Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.