Guideline Value for Jayaparanjothi Lane

Jayaparanjothi Lane guideline value

The current guideline value of Jayaparanjothi Lane in Erukancherry village is Rs 2,500 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Jayaparanjothi Lane has changed

In the 2012 revision, the guideline value was Rs 2,300 per sq.ft. This figure decreased to Rs 1,541 per sq.ft in the 2017 revision, marking a reduction of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,300 per sq.ft, representing a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,500 per sq.ft, which is a 9% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Jayaparanjothi Lane. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median of Rs 2,500 per sq.ft. Jayaparanjothi Lane's 2024 value aligns with this median.

• Jayaparanjothi Street: Rs 2,500 per sq.ft (2024)
• Jayaparanjothi Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Jeevanandam Street: Rs 2,500 per sq.ft (2024)
• Jawahar Street: Rs 2,200 per sq.ft (2024)
• Jamal Nilayam: Rs 2,200 per sq.ft (2024)
• Kailasam Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaparanjothi Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, making the total charges Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jayaparanjothi Lane?

The Sub Registrar Office that covers Jayaparanjothi Lane is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Erukancherry. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. This helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Jayaparanjothi Lane?

The current guideline value of Jayaparanjothi Lane is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 2,300 per sq.ft in 2012, Rs 1,541 per sq.ft in 2017, Rs 2,300 per sq.ft in 2023, and Rs 2,500 per sq.ft in 2024. The most significant change was a 49% increase from 2017 to 2023.

What is the land classification for Jayaparanjothi Lane?

Jayaparanjothi Lane is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Jayaparanjothi Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 25,00,000 would incur a stamp duty of Rs 1,75,000 at a rate of 7%.