Guideline Value for Jawahar Street

Jawahar Street guideline value

The current guideline value of Jawahar Street in Erukancherry village, under the Madhavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Jawahar Street has changed

The guideline value for Jawahar Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,200 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. Jawahar Street's 2024 figure of Rs 2,200 per sq.ft is below this median.

• Jayaparanjothi Lane: Rs 2,500 per sq.ft (2024)
• Jayaparanjothi Street: Rs 2,500 per sq.ft (2024)
• Jayaparanjothi Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Jamal Nilayam: Rs 2,200 per sq.ft (2024)
• Jeevanandam Street: Rs 2,500 per sq.ft (2024)
• Indra Nagar (West) Lane: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Jawahar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jawahar Street?

The Sub Registrar Office that covers Jawahar Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Erukancherry. It is used to determine the stamp duty and registration fees applicable when a property is sold or purchased. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is compared with the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jawahar Street?

The current guideline value of Jawahar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Jawahar Street?

Jawahar Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Jawahar Street?

The Sub Registrar Office for Jawahar Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Jawahar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would include stamp duty at 7% and registration fee at 2% of the guideline value.