Guideline Value for Jayalakshmipuram 3rd Street

Jayalakshmipuram 3rd Street guideline value

The current guideline value of Jayalakshmipuram 3rd Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Jayalakshmipuram 3rd Street has changed

The guideline value for Jayalakshmipuram 3rd Street has seen significant changes over the years. In the 2007 revision, the value was Rs 1,800 per sq.ft, which increased dramatically to Rs 7,000 per sq.ft in the 2012 revision, marking a rise of 289%. However, in the 2017 revision, the value decreased to Rs 4,690 per sq.ft, a drop of 33%. The value then increased to Rs 7,000 per sq.ft in the 2023 revision, followed by a further increase to the current rate of Rs 7,700 per sq.ft in the 2024 revision, which is a 10% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 328%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Jayalakshmipuram 3rd Street is below this median.

• Jayalakshmipuram 2nd Street: Rs 7,700 per sq.ft (2024)
• Jayalakshmipuram 4th Street: Rs 7,700 per sq.ft (2024)
• Jayalakshmipuram 1st Street: Rs 7,700 per sq.ft (2024)
• Jayalakshmi puram MainRoad: Rs 8,800 per sq.ft (2024)
• Jambulingam Road: Rs 8,800 per sq.ft (2024)
• Jhonty Garden: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jayalakshmipuram 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty is calculated at 7%, which totals Rs 5,39,000, and the registration fee is charged at 2%, amounting to Rs 1,54,000. Therefore, the total cost for duty and registration fees would be Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jayalakshmipuram 3rd Street?

The Sub Registrar Office that covers Jayalakshmipuram 3rd Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. For more information, you can find your SRO.

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

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

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall cost of the transaction. Buyers and sellers should consult the latest guideline values to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Jayalakshmipuram 3rd Street?

The current guideline value of Jayalakshmipuram 3rd Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,800 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 328% over the years.

What are the stamp duty and registration fees for property in Jayalakshmipuram 3rd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 77,00,000. The stamp duty is Rs 5,39,000 and the registration fee is Rs 1,54,000, totaling Rs 6,93,000.

Which Sub Registrar Office covers this street?

The Chennai Central Joint II Sub Registrar Office covers Jayalakshmipuram 3rd Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Jayalakshmipuram 3rd Street?

The land classification for Jayalakshmipuram 3rd Street is Residential Class I Type - I.