Guideline Value for Jayabharathi nagar 2nd Street

Jayabharathi nagar 2nd Street guideline value

The current guideline value of Jayabharathi nagar 2nd Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Jayabharathi nagar 2nd Street has changed

The guideline value for Jayabharathi nagar 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,200 per sq.ft, which decreased to Rs 2,144 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,200 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,520 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

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. The median value across these streets is Rs 3,960 per sq.ft, placing Jayabharathi nagar 2nd Street's 2024 figure below that median.

• Jayabharathi nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total 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, bringing the total cost to Rs 3,16,800. It is important to note that the duty is charged on the higher of either the guideline value or the sale price.

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

Which Sub Registrar Office covers Jayabharathi nagar 2nd Street?

The Sub Registrar Office that covers Jayabharathi nagar 2nd 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 Porur

The guideline value is a crucial factor when registering property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to make informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Jayabharathi nagar 2nd Street?

The current guideline value of Jayabharathi nagar 2nd 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 back 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 of Jayabharathi nagar 2nd Street?

Jayabharathi nagar 2nd Street is classified as Residential Special Type - II.

Where can I find the registration office for this area?

The registration office for Jayabharathi nagar 2nd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 35,20,000 would incur a stamp duty of Rs 2,46,400 at 7%.