Guideline Value for Jegannatharaja Street

Jegannatharaja Street guideline value

The current guideline value of Jegannatharaja 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 Jegannatharaja Street has changed

The guideline value for Jegannatharaja Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 330 per sq.ft. This increased to Rs 360 per sq.ft in 2003, marking a 9% rise. In 2007, the value saw a significant jump to Rs 700 per sq.ft, which represented a 94% increase. The 2012 revision brought the value back up to Rs 3,000 per sq.ft, showing a substantial increase of 329%. However, it decreased to Rs 2,010 per sq.ft in the 2017 revision, reflecting a decline of 33%.

From 2017 to 2023, the guideline value rose to Rs 3,000 per sq.ft, which is a 49% increase. The most recent revision in 2024 set the value at Rs 3,301 per sq.ft, marking a 10% increase from the previous year. There are no figures available for the revisions prior to 2002 or for the years not listed in the register.

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 Jegannatharaja Street.

• Jegannathan 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 Jegannatharaja 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, while the registration fee at 2% would be Rs 66,020. Together, the total cost for stamp duty and registration would be Rs 2,97,090. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers Jegannatharaja Street?

Jegannatharaja Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Peravallur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for property transfers. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to determine the minimum value on which the stamp duty is calculated. This means that even if the sale price is lower than the guideline value, the duty will be charged based on the guideline value.

Frequently asked questions

What is the current guideline value of Jegannatharaja Street?

The current guideline value of Jegannatharaja 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 330 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 900% over the years.

What is the land classification of Jegannatharaja Street?

Jegannatharaja Street is classified as Residential Special Type - II under the current regulations.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles all registrations for properties in the area.

How is stamp duty calculated for properties in Jegannatharaja Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, on a property valued at Rs 33,01,000, the stamp duty would be Rs 2,31,070 at a rate of 7%.