Guideline Value for Jawahar Nagar 2nd Circular Road

Jawahar Nagar 2nd Circular Road guideline value

The current guideline value for Jawahar Nagar 2nd Circular Road is Rs 4,200 per sq.ft, effective from 1 July 2024. This road is located in Peravallur village, under the Sembiam SRO, with a land classification of Mixed Type - I.

How the guideline value of Jawahar Nagar 2nd Circular Road has changed

The guideline value for Jawahar Nagar 2nd Circular Road has seen several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,900 per sq.ft in 2012, marking a rise of 290%. However, the value dropped to Rs 2,613 per sq.ft in 2017, representing a decrease of 33%. The value then surged to Rs 3,900 per sq.ft in 2023, followed by another increase to Rs 4,200 per sq.ft in 2024, which is an 8% rise from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 value, the guideline value has increased by 320%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value for Jawahar Nagar 2nd Circular Road is above this median.

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

Stamp duty and registration fee for property in Jawahar Nagar 2nd Circular Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,200 per sq.ft, the total guideline value amounts to Rs 42,00,000. The stamp duty at 7% would be Rs 2,94,000, and the registration fee at 2% would be Rs 84,000, bringing the total to Rs 3,78,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Jawahar Nagar 2nd Circular Road?

The Sub Registrar Office that covers Jawahar Nagar 2nd Circular Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers and sellers often refer to this value to negotiate the sale price, as it reflects the official valuation set by the government.

Frequently asked questions

What is the current guideline value for Jawahar Nagar 2nd Circular Road?

The current guideline value for Jawahar Nagar 2nd Circular Road 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 from Rs 1,000 per sq.ft in 2007 to Rs 4,200 per sq.ft in 2024, showing a total increase of 320% over the years.

What are the other streets in Peravallur with the same guideline value?

Other streets in Peravallur with the same guideline value of Rs 4,200 per sq.ft include Jawahar Nagar 2nd Circular 1st Cross Street, Jawahar Nagar 2nd Cross Street, Jawahar Nagar 1st Main Road, Jawahar Nagar 1st Cross Street, Jawahar Nagar 2nd Main Road, and Jawahar Nagar 1st Cross 1st Lane.

How is stamp duty calculated for properties in Jawahar Nagar 2nd Circular Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 42,00,000, the stamp duty would be Rs 2,94,000.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. You can also find your SRO through the provided link.