Guideline Value for Jegajeevanram Street

Jegajeevanram Street guideline value

The current guideline value of Jegajeevanram Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Residential Class II Type - I.

How the guideline value of Jegajeevanram Street has changed

The guideline value for Jegajeevanram Street has undergone several revisions over the years. The 2007 revision set the value at Rs 250 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 500% rise. However, in 2017, the value dropped to Rs 1,005 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, and most recently, it reached Rs 1,600 per sq.ft in the 2024 revision, showing a 7% increase from the previous year.

It is important to note that the register has no figures for Jegajeevanram Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 540%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft as of 2024. The median value for these streets is Rs 2,200 per sq.ft, indicating that Jegajeevanram Street's current guideline value is below this median.

• Izsabella Street: Rs 850 per sq.ft (2024)
• Iyyappa Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 9th street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 9th Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 8th street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 8th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jegajeevanram Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is essential 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 precise calculations.

Which Sub Registrar Office covers Jegajeevanram Street?

The Sub Registrar Office that covers Jegajeevanram Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chembakkam

The guideline value is a crucial factor in property transactions in Chembakkam, as it determines the minimum price at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties adhere to the legal requirements set by the government.

It is important for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. Proper understanding of the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Jegajeevanram Street?

The current guideline value of Jegajeevanram Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 540% over the years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office handles transactions in Jegajeevanram Street?

The Selaiyur Sub Registrar Office handles transactions for Jegajeevanram Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How does the guideline value affect property transactions?

The guideline value affects property transactions as it determines the minimum registration price and is used to calculate the applicable stamp duty and registration fees during the buying or selling process.