Guideline Value for Jawaharlal Street

Jawaharlal Street guideline value

The current guideline value of Jawaharlal Street in Mogalivakkam village, under the Kunrathur SRO, is Rs 2,530 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - III land classification.

How the guideline value of Jawaharlal Street has changed

The guideline value of Jawaharlal Street has undergone several revisions over the years. The 2007 revision set the value at Rs 450 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in the 2012 revision, marking a remarkable increase of 411%. However, the value decreased to Rs 1,541 per sq.ft in 2017, reflecting a reduction of 33%. The 2023 revision saw the value rise to Rs 2,300 per sq.ft, followed by a further increase to Rs 2,530 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Jawaharlal Street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 462%.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft, with a median value of Rs 2,970 per sq.ft. The guideline value of Jawaharlal Street is below this median.

• H.T.L.Staff Colony: Rs 2,530 per sq.ft (2024)
• Guruswamy Nagar Extension IV: Rs 3,520 per sq.ft (2024)
• Guruswamy Nagar Extension: Rs 3,520 per sq.ft (2024)
• Guruswamy Nagar: Rs 3,520 per sq.ft (2024)
• Gowri Nagar Extension: Rs 2,530 per sq.ft (2024)
• Gowri Nagar: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Jawaharlal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, making the total fees together Rs 2,27,700. It is important to note that 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 Jawaharlal Street?

The Sub Registrar Office that covers Jawaharlal Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mogalivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value affects the stamp duty and registration fees that are payable at the time of registration.

When a property is sold, the guideline value is considered to ensure that the transaction is transparent and complies with the regulatory framework. It is essential for both parties to understand the implications of the guideline value in their property dealings.

Frequently asked questions

What is the current guideline value of Jawaharlal Street?

The current guideline value of Jawaharlal Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 462% over this period.

What is the land classification for Jawaharlal Street?

Jawaharlal Street is classified as Residential Special Type - III, which indicates its intended use for residential purposes.

Where can I find the registration office for Jawaharlal Street?

The registration office covering Jawaharlal Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 at 7%.