Guideline Value for Jayanthi Street

Jayanthi Street guideline value

The current guideline value of Jayanthi Street, located in Velachery village under the Velacheri SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Jayanthi Street has changed

Over the years, the guideline value of Jayanthi Street has seen several revisions. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in the 2012 revision. This remained unchanged until the 2023 revision, where it was again Rs 4,000 per sq.ft. The most recent revision in 2024 raised the value to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

In summary, from the 2007 revision to the 2024 revision, the guideline value has increased by a total of 144%. The revisions for the years 2017, 2003, and 2002 have no figures listed for Jayanthi Street in the register.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Jayanthi Street.

• Jayanthi Street /VGP Dr. Seethapathy Nagar: Rs 4,400 per sq.ft (2024)
• Jeganathapuram 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Jeganathapuram 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Jeganathapuram 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Jeganathapuram 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Jeganathapuram (Rajalakshmi Nagar) 1st Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jayanthi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayanthi Street?

The Sub Registrar Office that covers Jayanthi Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately in the government records.

When a property is registered, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for completing the legal formalities of property transfer. This ensures transparency and compliance with the regulations set by the state.

Frequently asked questions

What is the current guideline value of Jayanthi Street?

The current guideline value of Jayanthi Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 144% over the years.

What is the land classification for Jayanthi Street?

Jayanthi Street is classified under Residential Class II Type - II land classification.

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

The Velacheri Sub Registrar Office, which covers Jayanthi Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Jayanthi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, the stamp duty for a property with a guideline value of Rs 44,00,000 would be Rs 3,08,000 at 7%.