Guideline Value for Jayaram street

Jayaram street guideline value

The current guideline value of Jayaram street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Jayaram street has changed

The guideline value for Jayaram street has undergone several revisions over the years. The earliest recorded value was Rs 700 per sq.ft in 2007. This figure saw a significant increase to Rs 1,340 per sq.ft in the 2017 revision, marking a change of +91%. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting an increase of +64% from the 2017 figure. The register has no figures for the years 2023, 2012, 2003, and 2002 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +214%. This substantial rise highlights the evolving valuation of properties in this area over the years.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft as of the 2024 revision. The median guideline value in this village is Rs 1,600 per sq.ft, placing Jayaram street's 2024 figure above that median.

• Jeer Street: Rs 1,300 per sq.ft (2024)
• Jeeva Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Jeeva Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Jeeva Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Jeeva Nagar 5th Street: Rs 1,300 per sq.ft (2024)
• Jeeva Nagar 6th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaram street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayaram street?

The Sub Registrar Office that covers Jayaram street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that both buyers and sellers are aware of the official valuation set by the authorities.

When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Jayaram street?

The current guideline value of Jayaram street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 700 per sq.ft in 2007 to Rs 1,340 per sq.ft in 2017, and then to Rs 2,200 per sq.ft in 2024, with significant increases of +91% and +64% respectively.

What are the other streets in Tondaiarpet and their guideline values?

Other streets in Tondaiarpet include Jeer Street, Jeeva Nagar 2nd Street, Jeeva Nagar 3rd Street, Jeeva Nagar 4th Street, Jeeva Nagar 5th Street, and Jeeva Nagar 6th Street, all currently valued at Rs 1,300 per sq.ft as of 2024.

Where is the Royapuram Sub Registrar Office located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated on properties in Jayaram street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.