Guideline Value for Jayaram Pillai Street (JPT)

Jayaram Pillai Street (JPT) guideline value

The current guideline value of Jayaram Pillai Street (JPT) is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Jayaram Pillai Street (JPT) has changed

Over the years, the guideline value for Jayaram Pillai Street (JPT) has experienced several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 800 per sq.ft. This increased significantly to Rs 3,750 per sq.ft in 2012, marking a 369% rise. However, from 2012 to 2017, the value decreased to Rs 2,512 per sq.ft, a drop of 33%. The value then saw a substantial increase to Rs 3,750 per sq.ft in 2023, representing a 49% rise. The most recent revision in 2024 set the guideline value at Rs 4,100 per sq.ft, which is a 9% increase from the previous year.

It is important to note that there are no recorded figures for Jayaram Pillai Street (JPT) for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 413%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Jayaram Pillai Street's 2024 figure below that median.

• Jayaraman Street (W.M): Rs 5,500 per sq.ft (2024)
• Jaya Prakash Narayanan Street (JPT): Rs 4,100 per sq.ft (2024)
• Jeevanandam Salai Ch-78: Rs 6,000 per sq.ft (2024)
• Jeevanandam Salai (Sivalingapuram): Rs 6,000 per sq.ft (2024)
• Jeevanandam Street S.No. 55 & 394/2: Rs 3,300 per sq.ft (2024)
• Jeevanandham (Cross) Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaram Pillai Street (JPT)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total charges to Rs 3,69,000. 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 Pillai Street (JPT)?

The Sub Registrar Office that covers Jayaram Pillai Street (JPT) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value in accordance with government regulations.

When a buyer and seller agree on a sale price, the registration office will assess the guideline value to determine the applicable stamp duty and registration fees. This ensures that all transactions are transparent and that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jayaram Pillai Street (JPT)?

The current guideline value of Jayaram Pillai Street (JPT) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking an overall increase of 413%.

What is the land classification for Jayaram Pillai Street (JPT)?

The land classification for Jayaram Pillai Street (JPT) is Residential Class IV Type - I.

Where can I find the Ashok Nagar Sub Registrar Office?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Jayaram Pillai Street (JPT)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 41,00,000, the stamp duty at 7% would be Rs 2,87,000.