Guideline Value for Jegannathan Street

Jegannathan Street guideline value

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

How the guideline value of Jegannathan Street has changed

The guideline value for Jegannathan Street has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 325 per sq.ft. This increased to Rs 354 per sq.ft in 2003, marking a 9% rise. The value then significantly jumped to Rs 700 per sq.ft in 2007, reflecting a 98% increase. In 2012, the guideline value was recorded at Rs 3,000 per sq.ft, which was a substantial increase of 329% from the previous revision.

From 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, showing a decline of 33%. The 2023 revision set the value at Rs 3,000 per sq.ft, which then increased by 10% to reach the current guideline value of Rs 3,301 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 916%.

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 for these streets is Rs 3,301 per sq.ft, which is equal to the guideline value of Jegannathan Street.

• Jegannatharaja Street: Rs 3,301 per sq.ft (2024)
• Jegatheesan Street (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Jayaram Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Jayaram Street South: Rs 3,301 per sq.ft (2024)
• Jayaram Street North: Rs 3,301 per sq.ft (2024)
• Jayaraman Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Jegannathan Street

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 amount to 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jegannathan Street?

The Sub Registrar Office that covers Jegannathan Street 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 crucial factor when buying or selling property in Peravallur. It serves as a reference point for determining the market price of the property, ensuring that transactions are conducted fairly and transparently. The guideline value is also used to calculate the stamp duty and registration fees applicable to the property transaction.

When registering a property, the guideline value helps in establishing the minimum price at which a property can be sold. This ensures that both buyers and sellers are aware of the value assigned to the property by the government, which helps in avoiding disputes during the registration process.

Frequently asked questions

What is the current guideline value of Jegannathan Street?

The current guideline value of Jegannathan Street 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 325 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, showing an overall increase of 916% over the years.

What is the land classification of Jegannathan Street?

Jegannathan Street is classified as Residential Special Type - II under the current guidelines.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Jegannathan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 2,31,070 at 7% of the guideline value.