Guideline Value for Jayaprakash Street

Jayaprakash Street guideline value

The current guideline value of Jayaprakash Street in Pammal village, under the Pammal SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - II land classification.

How the guideline value of Jayaprakash Street has changed

The guideline value of Jayaprakash Street has seen significant changes over the years. In 2002, the guideline value was Rs 136 per sq.ft. This figure increased to Rs 154 per sq.ft in 2003, marking a 13% rise. The value further rose to Rs 260 per sq.ft in 2007, which represented a 69% increase. By 2017, the value had jumped to Rs 1,072 per sq.ft, reflecting a substantial 312% increase from the 2007 figure. The next revision in 2023 set the guideline value at Rs 1,600 per sq.ft, a 49% increase from 2017. The latest revision in 2024 has brought the value to Rs 1,760 per sq.ft, which is a 10% increase from the previous year. Notably, there is no figure available for the year 2012 in the register for this street.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in the village is Rs 2,090 per sq.ft, placing Jayaprakash Street's 2024 figure below this median.

• Jayaraman Street/ Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Jayaram Street, Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Jayatheeratha Rao Street, LIC Colony Extn: Rs 2,530 per sq.ft (2024)
• Jayatheerthan Street / LIC Colony: Rs 2,530 per sq.ft (2024)
• Jayamary Street / Nagalkeni: Rs 1,980 per sq.ft (2024)
• Jeevanandham Street, Muthamiaz Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaprakash Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty, charged at 7%, would amount to Rs 1,23,200, while the registration fee at 2% would be Rs 35,200. Together, these fees would total Rs 1,58,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jayaprakash Street?

The Sub Registrar Office that covers Jayaprakash Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pammal

The guideline value is a crucial factor in property transactions in Pammal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, buyers and sellers must provide the guideline value to the Sub Registrar Office. This ensures that the transaction is recorded accurately and that the appropriate fees are paid. The guideline value helps maintain transparency in property transactions within the Pammal area.

Frequently asked questions

What is the current guideline value of Jayaprakash Street?

The current guideline value of Jayaprakash Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 136 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, showing an overall increase of 1194% over the years.

What is the land classification for Jayaprakash Street?

Jayaprakash Street is classified under Residential Class III Type - II, which indicates its intended use for residential purposes.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at Rs 1,760 per sq.ft would incur a total guideline value of Rs 17,60,000.