Guideline Value for Jayaram Street (Vetri Nagar)

Jayaram Street (Vetri Nagar) guideline value

The current guideline value of Jayaram Street (Vetri Nagar) is Rs 3,301 per sq.ft. This street is located in Peravallur village under the Sembiam SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Jayaram Street (Vetri Nagar) has changed

The guideline value for Jayaram Street (Vetri Nagar) has seen several revisions over the years. In 2002, the value was Rs 410 per sq.ft, which increased to Rs 447 per sq.ft in 2003. Following this, the value rose significantly to Rs 800 per sq.ft in 2007, and then to Rs 3,000 per sq.ft in 2012. However, it dropped to Rs 2,010 per sq.ft in 2017 before increasing again to Rs 3,000 per sq.ft in 2023. The latest revision in 2024 has set the value at Rs 3,301 per sq.ft, reflecting a 10% increase from the previous year.

Between the revisions, various changes have occurred. From 2017 to 2023, there was a notable increase of 49%. The jump from 2007 to 2012 saw a decrease of 33%, while the increase from 2002 to 2003 was 9%. The most significant rise was from 2007 to 2012, which was 275%. Overall, from 2002 to 2024, the guideline value has increased by 705%. The register has no figure for the years not mentioned.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is equal to the 2024 guideline value of Jayaram Street (Vetri Nagar).

• Jayaram Street South: Rs 3,301 per sq.ft (2024)
• Jayaram Street North: Rs 3,301 per sq.ft (2024)
• Jayaraman Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Jegannathan Street: Rs 3,301 per sq.ft (2024)
• Jegannatharaja Street: Rs 3,301 per sq.ft (2024)
• Jegatheesan Street (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaram Street (Vetri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, totaling Rs 2,97,090. 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 Street (Vetri Nagar)?

The Sub Registrar Office that covers Jayaram Street (Vetri Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jayaram Street (Vetri Nagar)?

The current guideline value of Jayaram Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 410 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, reflecting a significant increase of 705% over the years.

What is the land classification for Jayaram Street (Vetri Nagar)?

The land classification for Jayaram Street (Vetri Nagar) is Residential Special Type - II.

Which office handles registrations for properties in Jayaram Street (Vetri Nagar)?

The Sembiam Sub Registrar Office handles registrations for properties in Jayaram Street (Vetri Nagar), located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Jayaram Street (Vetri Nagar)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000.