Guideline Value for Jayalakshmipuram 4th Street

Jayalakshmipuram 4th Street guideline value

The current guideline value of Jayalakshmipuram 4th 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. It is classified as Residential Class I Type - I.

How the guideline value of Jayalakshmipuram 4th Street has changed

Over the years, the guideline value of Jayalakshmipuram 4th Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,800 per sq.ft, which increased to Rs 7,000 per sq.ft in 2012, marking a substantial rise of 289%. However, from 2012 to 2017, the value decreased to Rs 4,690 per sq.ft, reflecting a drop of 33%. The value then surged to Rs 7,000 per sq.ft in 2023, and the latest revision in 2024 set the guideline value at Rs 7,700 per sq.ft, an increase of 10% from the previous year.

In summary, the guideline value has increased from Rs 1,800 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, representing an overall increase of 328% over this period. There are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are a total of 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 of Jayalakshmipuram 4th Street is below this median.

• Jayalakshmipuram 3rd Street: Rs 7,700 per sq.ft (2024)
• Jayalakshmi puram MainRoad: Rs 8,800 per sq.ft (2024)
• Jayalakshmipuram 2nd Street: Rs 7,700 per sq.ft (2024)
• Jayalakshmipuram 1st Street: Rs 7,700 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees together to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jayalakshmipuram 4th Street?

The Sub Registrar Office that covers Jayalakshmipuram 4th Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Nungambakkam, as it determines the minimum value at which property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are based on a standard valuation set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it not only affects the financial aspects of the transaction but also ensures compliance with local regulations. Understanding the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Jayalakshmipuram 4th Street?

The current guideline value of Jayalakshmipuram 4th Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How much 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, showing an overall increase of 328% over this period.

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

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be 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 4th Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification for Jayalakshmipuram 4th Street?

Jayalakshmipuram 4th Street is classified as Residential Class I Type - I, indicating its designation for residential use.