Guideline Value for Jayatheerthan Street / LIC Colony

Jayatheerthan Street / LIC Colony guideline value

The current guideline value of Jayatheerthan Street / LIC Colony is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - I.

How the guideline value of Jayatheerthan Street / LIC Colony has changed

The guideline value for Jayatheerthan Street / LIC Colony has seen significant changes over the years. In 2002, the value was Rs 188 per sq.ft, which increased to Rs 213 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, a substantial increase of 69%. By 2017, the guideline value reached Rs 1,541 per sq.ft, reflecting a dramatic increase of 328%. The most recent revisions show the value was Rs 2,300 per sq.ft in 2023, and it has now increased by 10% to Rs 2,530 per sq.ft in 2024.

The register has no figure for this street in 2012. Overall, from 2002 to 2024, the guideline value has increased by 1246%, highlighting the significant changes over the years.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Jayatheerthan Street / LIC Colony's 2024 figure above the median.

• Jayatheeratha Rao Street, LIC Colony Extn: Rs 2,530 per sq.ft (2024)
• Jayaram Street, Periyar Nagar: Rs 1,980 per sq.ft (2024)
• Jayaraman Street/ Ganapathy Nagar: Rs 1,760 per sq.ft (2024)
• Jayaprakash Street: Rs 1,760 per sq.ft (2024)
• Jeevanandham Street, Muthamiaz Nagar: Rs 2,475 per sq.ft (2024)
• Jeevanandhan Street / Mungil Lake: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Jayatheerthan Street / LIC Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total fees together to Rs 2,27,700. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jayatheerthan Street / LIC Colony?

The Sub Registrar Office that covers Jayatheerthan Street / LIC Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the property registration process in Pammal. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is legally recognized and documented.

It is crucial for buyers and sellers to be aware of the guideline value, as it affects the financial obligations during the registration process. Proper understanding of these values helps in making informed decisions regarding property transactions.

Frequently asked questions

What is the current guideline value of Jayatheerthan Street / LIC Colony?

The current guideline value of Jayatheerthan Street / LIC Colony is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 188 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, marking an overall increase of 1246% over the years.

What is the land classification for Jayatheerthan Street / LIC Colony?

Jayatheerthan Street / LIC Colony is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Pammal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 25,30,000 would incur a stamp duty of Rs 1,77,100 at 7%.