Guideline Value for Jayaraman Street (Vetri Nagar)

Jayaraman Street (Vetri Nagar) guideline value

The current guideline value of Jayaraman Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO, classified as Residential Special Type - II.

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

The guideline value for Jayaraman Street (Vetri Nagar) has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,000 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, this value decreased by 33% to Rs 2,010 per sq.ft in the 2017 revision. The 2023 revision saw a significant increase to Rs 3,000 per sq.ft, followed by a further increase of 10% to Rs 3,301 per sq.ft in the 2024 revision.

Overall, from 2007 to 2024, the guideline value has increased by 230%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

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 the same as the current guideline value for Jayaraman Street (Vetri Nagar).

• Jayaram Street North: Rs 3,301 per sq.ft (2024)
• Jayaram Street South: Rs 3,301 per sq.ft (2024)
• Jayaram Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Jawahar Nagar Old Post Office Road: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar Koil Veethi: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar Koil 2nd Cross Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaraman 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, bringing the total to Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Jayaraman Street (Vetri Nagar)?

The Sub Registrar Office covering Jayaraman 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 is a critical factor in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that the transaction is recorded at a value recognized by the government.

When a property is sold, the guideline value helps in calculating the taxes due at the time of registration. Buyers and sellers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of Jayaraman 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 1,000 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the land classification of Jayaraman Street (Vetri Nagar)?

Jayaraman Street (Vetri Nagar) is classified as Residential Special Type - II under the Sembiam SRO.

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

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,01,000, the stamp duty would be calculated at 7% of that amount.