Guideline Value for Jawahar Nagar Old Post Office Road

Jawahar Nagar Old Post Office Road guideline value

The current guideline value of Jawahar Nagar Old Post Office Road is Rs 4,200 per sq.ft. This road is located in Peravallur village, under the Sembiam SRO, and is classified as Mixed Type - I land.

How the guideline value of Jawahar Nagar Old Post Office Road has changed

The guideline value for Jawahar Nagar Old Post Office Road has seen several revisions over the years. In 2002, the value was Rs 554 per sq.ft, which increased to Rs 603 per sq.ft in 2003. The value then rose significantly to Rs 1,000 per sq.ft in 2007, followed by a substantial jump to Rs 3,900 per sq.ft in 2012. However, it decreased to Rs 2,613 per sq.ft in 2017, before climbing back to Rs 3,900 per sq.ft in 2023. The latest revision, effective from 1 July 2024, sets the guideline value at Rs 4,200 per sq.ft.

Between these revisions, the changes reflect a variety of trends. From 2002 to 2003, the increase was +9%. The value surged by +66% from 2003 to 2007, followed by a remarkable +290% increase from 2007 to 2012. However, there was a decrease of -33% from 2012 to 2017. The value then rose by +49% from 2017 to 2023, and finally, an increase of +8% occurred from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +658%.

Guideline values in Peravallur

In Peravallur village, there are 423 streets under the Sembiam SRO with a guideline value range from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,301 per sq.ft, placing Jawahar Nagar Old Post Office Road above this median.

• Jawahar Nagar Koil Veethi: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar Koil 2nd Cross Street: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar Koil 1st Cross Street: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar 70 Feet Road: Rs 4,900 per sq.ft (2024)
• Jawahar Nagar 6th Main Road: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar 5th Main Road: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jawahar Nagar Old Post Office Road

For a 1,000 sq.ft plot at the current rate of Rs 4,200 per sq.ft, the 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 duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jawahar Nagar Old Post Office Road?

The Sub Registrar Office that covers Jawahar Nagar Old Post Office 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 plays a crucial role in property transactions in Peravallur. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that the government receives a fair share of revenue from property transactions.

Additionally, the guideline value serves as a reference point for buyers and sellers to understand the value of properties in the area. It helps in determining the appropriate pricing for properties based on the current market conditions and the official rates set by the government.

Frequently asked questions

What is the current guideline value of Jawahar Nagar Old Post Office Road?

The current guideline value of Jawahar Nagar Old Post Office 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 significantly from Rs 554 per sq.ft in 2002 to Rs 4,200 per sq.ft in 2024, reflecting an overall increase of +658% over this period.

What is the land classification of Jawahar Nagar Old Post Office Road?

The land classification for Jawahar Nagar Old Post Office Road is Mixed Type - I, indicating a diverse use of land in this area.

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 the stamp duty calculated for properties in Jawahar Nagar Old Post Office Road?

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