Guideline Value for Jawahar Nagar 1st Cross Street

Jawahar Nagar 1st Cross Street guideline value

The current guideline value of Jawahar Nagar 1st Cross Street is Rs 4,200 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Mixed Type - I land.

How the guideline value of Jawahar Nagar 1st Cross Street has changed

The guideline value for Jawahar Nagar 1st Cross Street has seen several revisions over the years. In 2002, the value was Rs 526 per sq.ft, which increased to Rs 573 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,000 per sq.ft in 2007, and then to Rs 3,900 per sq.ft in 2012. However, it dropped to Rs 2,613 per sq.ft in 2017 before increasing again to Rs 3,900 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 4,200 per sq.ft.

In terms of changes, the guideline value increased by 9% from 2002 to 2003, followed by a 75% rise from 2003 to 2007. The value then jumped by 290% from 2007 to 2012. After a decrease of 33% from 2012 to 2017, the value increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 is an increase of 8%. Overall, from 2002 to 2024, the guideline value has increased by 698%.

Guideline values in Peravallur

In Peravallur village, there are 423 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 3,301 per sq.ft, making the 2024 figure for Jawahar Nagar 1st Cross Street above the median.

• Jawahar Nagar 1st Cross 1st Lane: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar 1st Main Road: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar 1st Circular Road: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar 2nd Circular 1st Cross Street: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar 10 Feet Road: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar 2nd Circular Road: Rs 4,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,200 per sq.ft, the total guideline value would be Rs 42,00,000. The stamp duty, charged at 7%, would amount to Rs 2,94,000, and the registration fee, charged at 2%, would be Rs 84,000. Together, the total cost for stamp duty and registration fee would be Rs 3,78,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jawahar Nagar 1st Cross Street?

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

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

The guideline value is an important factor in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the applicable duties.

When registering a property, the guideline value helps ensure transparency and fairness in the transaction process. It is essential for both parties to understand the implications of the guideline value on the overall costs involved in the property transfer.

Frequently asked questions

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

The current guideline value of Jawahar Nagar 1st Cross Street is Rs 4,200 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 526 per sq.ft in 2002 to Rs 4,200 per sq.ft in 2024, reflecting an overall increase of 698% over this period.

What are the stamp duty and registration fees for property in Jawahar Nagar 1st Cross Street?

For a property valued at Rs 42,00,000, the stamp duty would be Rs 2,94,000 and the registration fee would be Rs 84,000, totaling Rs 3,78,000.

Which Sub Registrar Office covers Jawahar Nagar 1st Cross Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, covers Jawahar Nagar 1st Cross Street.

What is the land classification of Jawahar Nagar 1st Cross Street?

Jawahar Nagar 1st Cross Street is classified as Mixed Type - I land.