Guideline Value for Jayaparanjothi Street

Jayaparanjothi Street guideline value

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

How the guideline value of Jayaparanjothi Street 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 decline of 33%. The 2023 revision saw a significant increase to Rs 2,300 per sq.ft, followed by a further increase to Rs 2,500 per sq.ft in the 2024 revision, reflecting a 9% rise from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The changes between the revisions highlight the fluctuations in the guideline value over the years, with the most notable increase being 49% from 2017 to 2023.

Guideline values in Erukancherry

Erukancherry village has a total of 376 streets under the Madhavaram SRO, with guideline values for 2024 ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value is Rs 2,500 per sq.ft, which aligns with the current figure for Jayaparanjothi Street.

• Jayaparanjothi Lane: 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 Street

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, bringing the total cost to 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. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayaparanjothi Street?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Erukancherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial implications of their transaction. This process helps maintain transparency and accountability in real estate dealings.

Frequently asked questions

What is the current guideline value of Jayaparanjothi Street?

The current guideline value of Jayaparanjothi Street 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 various changes, from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, followed by an increase to Rs 2,300 per sq.ft in 2023 and finally reaching Rs 2,500 per sq.ft in 2024.

What is the land classification for Jayaparanjothi Street?

Jayaparanjothi Street is classified as Residential Class III Type - I under the Madhavaram SRO.

What is the stamp duty for properties on Jayaparanjothi Street?

The stamp duty for properties on Jayaparanjothi Street is 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 25,00,000 would incur a stamp duty of Rs 1,75,000.

Where is the Sub Registrar Office located for Jayaparanjothi Street?

The Madhavaram Sub Registrar Office, which covers Jayaparanjothi Street, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.