Guideline Value for Jayammal Street

Jayammal Street guideline value

The current guideline value of Jayammal Street in Aminjikarai village, under the AnnaNagar SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Jayammal Street has changed

The guideline value for Jayammal Street has seen significant changes over the years. In 2002, the value was Rs 650 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a rise of 85%. The value then surged dramatically to Rs 5,000 per sq.ft in 2012, reflecting a 317% increase. However, it dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The value rebounded to Rs 5,000 per sq.ft in 2023, followed by the current value of Rs 5,500 per sq.ft in 2024, showing a 10% increase.

It is important to note that there is no figure available for Jayammal Street in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 746%.

Guideline values in Aminjikarai

Aminjikarai features a range of guideline values across its 99 streets under the AnnaNagar SRO, with the 2024 figures ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value in this area is Rs 4,400 per sq.ft, placing Jayammal Street's 2024 value above the median.

• Jothiammal Nagar (HUTS): Rs 3,300 per sq.ft (2024)
• Kadhiravan Colony (Huts): Rs 3,300 per sq.ft (2024)
• Kanniah Chetty Street: Rs 5,500 per sq.ft (2024)
• Kanniah Chetty Street 2nd Lane: Rs 4,400 per sq.ft (2024)
• Kanniah Chetty Street 3rd Lane: Rs 4,400 per sq.ft (2024)
• Kanniah Chetty Street Ist Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jayammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total charges Rs 4,95,000. 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 Jayammal Street?

The Sub Registrar Office that covers Jayammal Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Aminjikarai. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that all transactions adhere to legal requirements.

In essence, the guideline value protects both buyers and sellers by establishing a clear and consistent framework for property valuation. This helps to prevent undervaluation and ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jayammal Street?

The current guideline value of Jayammal Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 650 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 746% over this period.

What is the land classification for Jayammal Street?

Jayammal Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Jayammal Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Jayammal Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at a rate of 7%.