Guideline Value for Jayapaul Street

Jayapaul Street guideline value

The current guideline value of Jayapaul Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Vengambakkam village, under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Jayapaul Street has changed

The guideline value of Jayapaul Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 550 per sq.ft, which is an increase from Rs 500 per sq.ft in the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 335 per sq.ft, showing a significant increase of 49% from that year to 2023. The 2012 revision also had a value of Rs 500 per sq.ft, which was a decrease of 33% from the 2017 figure.

It is important to note that there are no figures available in the register for the years 2002, 2003, and 2007 for Jayapaul Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, which means that Jayapaul Street's 2024 figure is below that median.

• Jagajeevan Ram Street: Rs 550 per sq.ft (2024)
• Indira Gandhi Street: Rs 440 per sq.ft (2024)
• Kakanji Street: Rs 440 per sq.ft (2024)
• Indira Gandhi Nagar: Rs 440 per sq.ft (2024)
• Kalaingar Street: Rs 440 per sq.ft (2024)
• Green Square City: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Jayapaul Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jayapaul Street?

The Sub Registrar Office that covers Jayapaul Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vengambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Jayapaul Street?

The current guideline value of Jayapaul Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024, an increase of 10%. It was Rs 335 per sq.ft in 2017, showing a 49% increase to 2023.

What is the land classification for Jayapaul Street?

The land classification for Jayapaul Street is Residential Class I Type - II.

What are the stamp duty and registration fees for property in Jayapaul Street?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office covers Jayapaul Street?

The Tambaram Joint 1 Sub Registrar Office covers Jayapaul Street, located at No.26, mes Road, East Tambaram, Chennai-600059.