Guideline Value for JayaVinayagar Street

JayaVinayagar Street guideline value

The current guideline value of JayaVinayagar Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of JayaVinayagar Street has changed

The guideline value for JayaVinayagar Street has seen several revisions over the years. In 2002, the value was Rs 972 per sq.ft, which increased to Rs 1,072 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 1,500 per sq.ft in 2007, reflecting a 40% increase. Following that, the value surged to Rs 3,600 per sq.ft in 2012, a remarkable 140% increase. However, it dropped to Rs 2,412 per sq.ft in 2017, showing a decrease of 33%. The value then increased to Rs 3,600 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which is an 8% rise.

Overall, from 2002 to 2024, the guideline value has increased by 301%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing JayaVinayagar Street's 2024 figure below that median.

• Jothi ammal Street: Rs 2,800 per sq.ft (2024)
• Jothima Nagar River side: Rs 2,800 per sq.ft (2024)
• JamalMohammed Hussain Street: Rs 3,900 per sq.ft (2024)
• Jamal Mohamed Mohideen Street: Rs 3,900 per sq.ft (2024)
• JailWardenquarters: Rs 6,300 per sq.ft (2024)
• KajaMohideen Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in JayaVinayagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total cost for these fees Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers JayaVinayagar Street?

The Sub Registrar Office that covers JayaVinayagar Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for additional details.

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

The guideline value is a crucial factor during property registration in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees required for the transaction. This ensures that both parties are aware of the financial obligations involved in the sale process.

Frequently asked questions

What is the current guideline value of JayaVinayagar Street?

The current guideline value of JayaVinayagar Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 972 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 301% over this period.

What is the land classification of JayaVinayagar Street?

JayaVinayagar Street falls under the Residential Class III Type - I land classification.

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

The Sub Registrar Office for JayaVinayagar Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 2,73,000 based on the current guideline value.