Guideline Value for Jawahar Street

Jawahar Street guideline value

The current guideline value of Jawahar Street in Chitlapakkam village, under the Tambaram Joint 1 SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - III.

How the guideline value of Jawahar Street has changed

Over the years, the guideline value of Jawahar Street has undergone several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, marking a -33% change. The value then increased significantly to Rs 1,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,650 per sq.ft in the 2024 revision, reflecting a +10% change.

From the 2017 revision to the 2023 revision, there was a notable increase of +49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by +10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Jawahar Street.

• Jarchi salai mairo avenue: Rs 1,650 per sq.ft (2024)
• Jaya Nagar 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Jaya Nagar 2nd Main Road: Rs 3,850 per sq.ft (2024)
• Jaya Nagar 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• JayaNagar 4-th Cross St: Rs 3,850 per sq.ft (2024)
• Jaya Nagar Ist Cross Street: Rs 3,850 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It is used to determine the stamp duty and registration fees payable during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

When a property is sold, 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 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Jawahar Street?

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

Where is the Sub Registrar Office for Jawahar Street located?

The Sub Registrar Office for Jawahar Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.