Guideline Value for Jayaprakashnarayanan Street

Jayaprakashnarayanan Street guideline value

The current guideline value of Jayaprakashnarayanan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Jayaprakashnarayanan Street has changed

The guideline value for Jayaprakashnarayanan Street has seen several revisions over the years. In 2002, the value was Rs 1,000 per sq.ft. This increased to Rs 1,092 per sq.ft in 2003, marking a rise of 9%. The value then rose to Rs 1,100 per sq.ft in 2007, showing a minimal increase of 1%. However, there was a significant jump to Rs 3,000 per sq.ft in 2012, reflecting a 173% increase. The value then decreased to Rs 2,010 per sq.ft in 2017, which was a decline of 33%. The guideline value rose again to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,300 per sq.ft in 2024, showing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 230%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, and Jayaprakashnarayanan Street's 2024 value is below this median.

• Janakiraman Street: Rs 3,300 per sq.ft (2024)
• Indira Gandhi Street: Rs 3,300 per sq.ft (2024)
• Indira Gandhi Road: Rs 3,300 per sq.ft (2024)
• Harikrishna Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 1st Street: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar 2nd Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaprakashnarayanan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the 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 further calculations.

Which Sub Registrar Office covers Jayaprakashnarayanan Street?

The Sub Registrar Office covering Jayaprakashnarayanan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Saligramam. It helps determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value can influence the overall cost of purchasing a property.

When registering a property, the guideline value serves as a benchmark for the transaction. It is essential for buyers and sellers to understand this value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Jayaprakashnarayanan Street?

The current guideline value of Jayaprakashnarayanan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over this period.

What is the land classification for Jayaprakashnarayanan Street?

Jayaprakashnarayanan Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where can I find the Sub Registrar Office for this street?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.