Guideline Value for Jayaraman Street (W.M)

Jayaraman Street (W.M) guideline value

The current guideline value of Jayaraman Street (W.M) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class III Type - I.

How the guideline value of Jayaraman Street (W.M) has changed

The guideline value for Jayaraman Street (W.M) has seen several revisions over the years. In 2007, the guideline value was Rs 1,210 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, there was a decrease to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2007 to 2012 was a remarkable 313%. Overall, from 2007 to 2024, the guideline value has increased by 355%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

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 Jayaraman Street (W.M) above this median with its current value of Rs 5,500 per sq.ft.

• Jaya Prakash Narayanan Street (JPT): Rs 4,100 per sq.ft (2024)
• Jayaram Pillai 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 Jayaraman Street (W.M)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayaraman Street (W.M)?

The Sub Registrar Office that covers Jayaraman Street (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering a property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it impacts the overall cost of the transaction. Buyers should ensure they understand how these values affect their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Jayaraman Street (W.M)?

The current guideline value of Jayaraman Street (W.M) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, with significant increases and decreases in between.

What is the land classification for Jayaraman Street (W.M)?

Jayaraman Street (W.M) is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in Jayaraman Street (W.M)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 4,95,000.

Where is the Sub Registrar Office for Jayaraman Street (W.M)?

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