Guideline Value for Jawahar Nagar 70 Feet Road

Jawahar Nagar 70 Feet Road guideline value

The current guideline value of Jawahar Nagar 70 Feet Road is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Commercial Special Type - III.

How the guideline value of Jawahar Nagar 70 Feet Road has changed

Over the years, the guideline value of Jawahar Nagar 70 Feet Road has seen several revisions. The earliest recorded value was Rs 554 per sq.ft in 2002, which increased to Rs 603 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,400 per sq.ft in 2007, and then to Rs 4,500 per sq.ft in 2012. However, it dropped to Rs 3,015 per sq.ft in 2017. The next revision in 2023 set the value at Rs 4,500 per sq.ft, and the most recent revision in 2024 has increased it to Rs 4,900 per sq.ft.

The changes between these revisions are notable. From 2017 to 2023, there was a 49% increase, while from 2012 to 2017, there was a decrease of 33%. A significant rise of 221% occurred from 2007 to 2012, and from 2003 to 2007, the increase was 132%. Overall, from 2002 to 2024, the guideline value has increased by 784%.

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 of Jawahar Nagar 70 Feet Road is above this median.

• Jawahar Nagar 6th Main Road: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar 5th Main Road: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar 5th Circular Road: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar 4th Main Road: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar Koil 1st Cross Street: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar 4th Cross Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jawahar Nagar 70 Feet Road

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, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jawahar Nagar 70 Feet Road?

The Sub Registrar Office that covers Jawahar Nagar 70 Feet Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

When buying or selling property in Peravallur, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions, and it ensures that the government receives appropriate revenue from property sales.

During the registration process, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that all transactions are fairly taxed, and the guideline value serves as a benchmark for property valuations in the area.

Frequently asked questions

What is the current guideline value of Jawahar Nagar 70 Feet Road?

The current guideline value of Jawahar Nagar 70 Feet Road 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 significantly from Rs 554 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, showing an overall increase of 784% over this period.

What is the land classification for Jawahar Nagar 70 Feet Road?

The land classification for Jawahar Nagar 70 Feet Road is Commercial Special Type - III.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a plot valued at Rs 49,00,000 would incur a stamp duty of Rs 3,43,000 at a rate of 7%.