Guideline Value for Jayaram Avenue

Jayaram Avenue guideline value

The current guideline value of Jayaram Avenue is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Urur village, under the Adayar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Jayaram Avenue has changed

The guideline value for Jayaram Avenue has seen significant changes over the years. In 2002, the guideline value was Rs 1,110 per sq.ft, which increased to Rs 1,313 per sq.ft in 2003, marking an 18% rise. The value continued to rise, reaching Rs 2,500 per sq.ft in 2007, a substantial increase of 90%. By 2012, the value was Rs 6,000 per sq.ft, reflecting a 140% increase from the previous revision. However, it then decreased to Rs 4,020 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 6,000 per sq.ft in 2023 and finally reached the current figure of Rs 6,600 per sq.ft in 2024, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 495%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Urur

In Urur village, there are 176 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the guideline value of Jayaram Avenue.

• Jayavinayagar Koil Street: Rs 5,500 per sq.ft (2024)
• Jeevarathinam Nagar: Rs 9,900 per sq.ft (2024)
• Jeevarathinam Nagar Main Road: Rs 9,900 per sq.ft (2024)
• Jeevarathnam Nagar 1st Street: Rs 9,900 per sq.ft (2024)
• Jeevarathnam Nagar 2nd Street: Rs 9,900 per sq.ft (2024)
• Karpagam Garden 1st Cross Road: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaram Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jayaram Avenue?

The Sub Registrar Office that covers Jayaram Avenue is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Urur. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware of the current guideline value to ensure they comply with the legal requirements during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount of revenue based on the property’s value at the time of the transaction.

Frequently asked questions

What is the current guideline value of Jayaram Avenue?

The current guideline value of Jayaram Avenue is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,110 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, representing an overall increase of 495% over the years.

What is the land classification for Jayaram Avenue?

Jayaram Avenue is classified as Residential Class II Type - I.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone.

How is stamp duty calculated for properties in Jayaram Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 4,62,000.