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 2 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 for Jayammal Street has undergone several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 10,000 per sq.ft. This was an increase from the previous figure, reflecting a 10% rise to the current value of Rs 11,000 per sq.ft in the 2024 revision.

From 2023 to 2024, the guideline value increased by 10%, moving from Rs 10,000 per sq.ft to Rs 11,000 per sq.ft. This change reflects the ongoing adjustments in property values within the region.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Jayammal Street's 2024 guideline value is above this median.

• 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 amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total fees to Rs 9,90,000. 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 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 further assistance.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the guideline value as it directly impacts the financial obligations associated with the purchase or sale. Buyers and sellers should ensure they are informed about the current guideline values to facilitate a smooth registration process.

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, reflecting a 10% increase. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Jayammal Street?

The land classification for Jayammal Street is Commercial Special Type - IV. This classification can influence the types of developments permitted in the area.

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

The stamp duty for properties in Jayammal Street is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable to the guideline value.

Where is the Sub Registrar Office for Jayammal Street located?

The Sub Registrar Office covering Jayammal Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office handles the registration of properties in the area.