Guideline Value for Jayalakshmi Avenue

Jayalakshmi Avenue guideline value

The current guideline value of Jayalakshmi Avenue in Pammathukulam village is Rs 330 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Jayalakshmi Avenue has changed

Over the years, the guideline value of Jayalakshmi Avenue has seen several revisions. Starting from Rs 189 per sq.ft in 2002, it increased to Rs 20 per sq.ft in 2003. The value then rose significantly to Rs 100 per sq.ft in 2007, followed by a jump to Rs 300 per sq.ft in 2012. However, it decreased to Rs 201 per sq.ft in 2017 before rising again to Rs 300 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 330 per sq.ft.

The changes between these revisions are notable. From 2002 to 2003, there was a decrease of 89%. The value then increased by 400% from 2003 to 2007. After a rise of 200% from 2007 to 2012, it fell by 33% from 2012 to 2017. Subsequently, the value increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 75%.

Guideline values in Pammathukulam

Pammathukulam village has a total of 101 streets under the Redhills SRO, with 2024 guideline values ranging from Rs 330 to Rs 825 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, placing Jayalakshmi Avenue's 2024 figure below that median.

• Jagathambal Nagar: Rs 660 per sq.ft (2024)
• Iswariam Nagar Extn. II: Rs 440 per sq.ft (2024)
• Iswariam Nagar Extn.: Rs 440 per sq.ft (2024)
• Ishwaryam Nagar Extn.1: Rs 440 per sq.ft (2024)
• Indhra Nagar: Rs 550 per sq.ft (2024)
• Kamala Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Jayalakshmi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total to Rs 29,700. It is important to note that the 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 Jayalakshmi Avenue?

The Sub Registrar Office that covers Jayalakshmi Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Pammathukulam. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official register.

When a buyer or seller engages in a property transaction, the guideline value helps to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Jayalakshmi Avenue?

The current guideline value of Jayalakshmi Avenue is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 189 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Jayalakshmi Avenue?

Jayalakshmi Avenue is classified as Residential Class III Type - I.

Where can I find information about other streets in Pammathukulam?

Information about other streets in Pammathukulam can be found in the guideline value register, which lists various streets and their respective guideline values.

What are the stamp duty and registration fees for properties in Jayalakshmi Avenue?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 3,30,000, the total fees would be Rs 29,700.