Guideline Value for Jayammal Street

Jayammal Street guideline value

The current guideline value of Jayammal Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Commercial Special Type - IV.

How the guideline value of Jayammal Street has changed

The guideline value register for Jayammal Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 11,000 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 10,000 per sq.ft. The register does not contain figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the guideline values for Jayammal Street were not recorded in the register. The significant change from 2023 to 2024 indicates a growing valuation in the area, with the current rate being notably above the median value of Rs 8,800 per sq.ft for streets in Mylapore Part 1.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. Jayammal Street's 2024 guideline value of Rs 11,000 per sq.ft is above the median value of Rs 8,800 per sq.ft. Below are other streets in Mylapore Part 1:

• Jaipur Colony: Rs 15,400 per sq.ft (2024)
• J.J.Road: Rs 14,300 per sq.ft (2024)
• Jaganatha Thottam: Rs 7,700 per sq.ft (2024)
• H.D.Raja Street: Rs 8,700 per sq.ft (2024)
• Kamarajar Salai: Rs 8,700 per sq.ft (2024)
• Kamarajar Street: Rs 8,700 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 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our 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 Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role in the registration process of property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When a buyer or seller engages in a property transaction, the guideline value is referenced to calculate the applicable fees. This ensures that the transaction is registered at a value that reflects the current market conditions as per the official records.

Frequently asked questions

What is the current guideline value of Jayammal Street?

The current guideline value of Jayammal Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Jayammal Street has changed from Rs 10,000 per sq.ft in 2023 to Rs 11,000 per sq.ft in 2024, marking a 10% increase. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Jayammal Street?

The land classification for Jayammal Street is Commercial Special Type - IV. This classification is important for determining the usage and development potential of the property.

What are the stamp duty rates for properties in Jayammal Street?

The stamp duty rate for properties in Jayammal Street is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2% on the same basis.

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

The Sub Registrar Office covering Jayammal Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.