Guideline Value for Jayaram Avenue

Jayaram Avenue guideline value

The current guideline value of Jayaram Avenue in Mannivakkam village is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - II.

How the guideline value of Jayaram Avenue has changed

The guideline value for Jayaram Avenue has seen several revisions over the years. In 2007, the value was set at Rs 200 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a rise of 350%. However, it decreased to Rs 603 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 900 per sq.ft in 2023, followed by a further increase to Rs 990 per sq.ft in 2024, reflecting a change of 10% from the previous year. Notably, the register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 395%. The revisions illustrate fluctuations in property valuation, with the most recent figure being Rs 990 per sq.ft as of 2024.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft, with a median value of Rs 1,215 per sq.ft. The guideline value of Jayaram Avenue is below this median.

• Jayaprakash Nagar: Rs 1,320 per sq.ft (2024)
• Jaya Nagar Extn M.G.R. Street: Rs 2,200 per sq.ft (2024)
• Jaya Nagar Extension M.G.R. Street: Rs 2,200 per sq.ft (2024)
• Jeyam Avenue: Rs 990 per sq.ft (2024)
• Jothiram Avenue: Rs 990 per sq.ft (2024)
• Indrani Ramachandran Avenue: Rs 770 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 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayaram Avenue?

The Sub Registrar Office that covers Jayaram Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Mannivakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is established by the government and is used as a benchmark for calculating these fees, ensuring that they are based on the official valuation of the property.

During the registration process, buyers must pay the applicable stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and in compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Jayaram Avenue?

The current guideline value of Jayaram Avenue is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 395% over the years.

What is the land classification of Jayaram Avenue?

Jayaram Avenue is classified as Residential Special Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Jayaram Avenue?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 9,90,000, the total fees would amount to Rs 89,100.

Which office handles registration for properties in Jayaram Avenue?

The Gooduvancheri Sub Registrar Office handles registration for properties in Jayaram Avenue, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202.