Guideline Value for Jayabharathi nagar 1st Street

Jayabharathi nagar 1st Street guideline value

The current guideline value of Jayabharathi nagar 1st Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of Jayabharathi nagar 1st Street has changed

The guideline value for Jayabharathi nagar 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,200 per sq.ft, which was later reduced to Rs 2,144 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,200 per sq.ft in the 2023 revision, and then to Rs 3,520 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have figures listed for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value for Jayabharathi nagar 1st Street is below this median.

• Jayabharathi nagar 2nd Street: Rs 3,520 per sq.ft (2024)
• Jayabharathi Nagar Main Road: Rs 3,520 per sq.ft (2024)
• Javahar Nagar Pilliyar Koil Street: Rs 3,960 per sq.ft (2024)
• Irular Colony Lane: Rs 3,520 per sq.ft (2024)
• Irular Colony: Rs 3,520 per sq.ft (2024)
• Hospital Road: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Jayabharathi nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 3,520 per sq.ft, the guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, totaling Rs 3,16,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayabharathi nagar 1st Street?

The Sub Registrar Office that covers Jayabharathi nagar 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jayabharathi nagar 1st Street?

The current guideline value of Jayabharathi nagar 1st Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then increased to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What is the land classification for Jayabharathi nagar 1st Street?

Jayabharathi nagar 1st Street is classified as Residential Special Type - II.

Where can I find the registration office for this area?

The registration office for Jayabharathi nagar 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.