Guideline Value for Jayaparanjothi Street (Kennedy Nagar)

Jayaparanjothi Street (Kennedy Nagar) guideline value

The current guideline value of Jayaparanjothi Street (Kennedy Nagar) is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Jayaparanjothi Street (Kennedy Nagar) has changed

The guideline value for Jayaparanjothi Street has seen several revisions over the years. In 2012, the guideline value was set at Rs 2,300 per sq.ft. This figure decreased to Rs 1,541 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 2,300 per sq.ft. The most recent revision in 2024 has increased the guideline value to Rs 2,500 per sq.ft, which is a 9% rise from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. 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, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, which is the same as the current value for Jayaparanjothi Street.

• Jayaparanjothi Street: Rs 2,500 per sq.ft (2024)
• Jayaparanjothi Lane: 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 Street (Kennedy Nagar)

For a 1,000 sq.ft plot at the current rate of Rs 2,500 per sq.ft, the guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling 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 details.

Which Sub Registrar Office covers Jayaparanjothi Street (Kennedy Nagar)?

The Sub Registrar Office that covers Jayaparanjothi Street (Kennedy Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Erukancherry. It is used to determine the stamp duty and registration fees that must be paid during the registration of property transactions. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

When registering a property, the authorities will charge the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jayaparanjothi Street?

The current guideline value of Jayaparanjothi Street (Kennedy Nagar) 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 changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What are the other streets in Erukancherry?

Other streets in Erukancherry include Jayaparanjothi Lane, Jeevanandam Street, Jawahar Street, Jamal Nilayam, and Kailasam Street, with varying guideline values.

How is stamp duty calculated for properties in Jayaparanjothi Street?

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

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.