Guideline Value for Jayakumar Street

Jayakumar Street guideline value

The current guideline value of Jayakumar Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO and is classified as Residential Class II Type - I.

How the guideline value of Jayakumar Street has changed

The guideline value for Jayakumar Street has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, in 2017, the value dropped to Rs 1,005 per sq.ft, reflecting a decrease of 33%. The subsequent revision in 2023 brought the value up to Rs 1,500 per sq.ft, which was a substantial increase of 49%. The latest revision in 2024 sees the guideline value set at Rs 1,600 per sq.ft, a 7% increase from the previous year.

It is important to note that the register has no figures for Jayakumar Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 220%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, which means Jayakumar Street's 2024 guideline value is below that median.

• Jawahar Street: Rs 2,400 per sq.ft (2024)
• Jayalakshmi Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Jayaprakash Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Jeevanandham Street (S.V.Nagar): Rs 1,600 per sq.ft (2024)
• Jeevanandham Street (Vijayalakshmipuram): Rs 2,400 per sq.ft (2024)
• Jeevanantham Street(Vinayagapuram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jayakumar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for these fees Rs 1,44,000. 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 further calculations.

Which Sub Registrar Office covers Jayakumar Street?

The Sub Registrar Office that covers Jayakumar Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Oragadam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. 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 Jayakumar Street?

The current guideline value of Jayakumar Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 220% over the years.

What is the land classification of Jayakumar Street?

Jayakumar Street is classified as Residential Class II Type - I.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value or sale price.

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

The Sub Registrar Office covering Jayakumar Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.