Guideline Value for Jayalakshmi Complex / Garden

Jayalakshmi Complex / Garden guideline value

The current guideline value of Jayalakshmi Complex / Garden is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Jayalakshmi Complex / Garden has changed

The guideline value for Jayalakshmi Complex / Garden has undergone several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 2,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 10% from 2012 to 2024, demonstrating fluctuations in the property values over the years.

Guideline values in Madhavaram

Madhavaram village has a range of guideline values across its 1946 streets, with figures for 2024 ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, placing the guideline value of Jayalakshmi Complex / Garden above this median.

• Jayalakshmi Garden 1st Cross St (Ward-03): Rs 2,200 per sq.ft (2024)
• Jayalakshmi Garden 1st st (Ward No.3): Rs 2,200 per sq.ft (2024)
• Jaya Garden: Rs 1,600 per sq.ft (2024)
• Jayalakshmi Garden 2nd Cross St (Ward-03): Rs 2,200 per sq.ft (2024)
• Jayalakshmi Garden 2nd st (Ward No.3): Rs 2,200 per sq.ft (2024)
• Jayalakshmi Garden 3rd Cross Street (Ward-03): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jayalakshmi Complex / Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayalakshmi Complex / Garden?

The Sub Registrar Office that covers Jayalakshmi Complex / Garden is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware of the current guideline value to ensure they are prepared for these costs.

When a property is sold, the guideline value is assessed to ensure that the transaction is recorded accurately. This helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from stamp duties.

Frequently asked questions

What is the current guideline value for Jayalakshmi Complex / Garden?

The current guideline value for Jayalakshmi Complex / Garden is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Jayalakshmi Complex / Garden?

The Madhavaram Sub Registrar Office handles property registrations for Jayalakshmi Complex / Garden, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, with the guideline value for Jayalakshmi Complex / Garden being above this median.