Guideline Value for Jegatheesan Street (Vetri Nagar Extension)

Jegatheesan Street (Vetri Nagar Extension) guideline value

The current guideline value of Jegatheesan Street (Vetri Nagar Extension) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Jegatheesan Street (Vetri Nagar Extension) has changed

The guideline value for Jegatheesan Street has seen several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this figure dropped to Rs 2,010 per sq.ft in 2017. The guideline value then rose sharply to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,301 per sq.ft in 2024. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 10%. The substantial rise from 2007 to 2012 was 275%, followed by a decrease of 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 313%.

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

• Jegannatharaja Street: Rs 3,301 per sq.ft (2024)
• Jegannathan Street: 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 Jegatheesan Street (Vetri Nagar Extension)

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, charged at 7%, would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020. Together, these fees would total Rs 2,97,090. It is important to note that the 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 Jegatheesan Street (Vetri Nagar Extension)?

Jegatheesan Street (Vetri Nagar Extension) is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Peravallur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a buyer or seller approaches the registration office, the guideline value is referenced to ensure that the appropriate fees are calculated based on the current rates. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Jegatheesan Street?

The current guideline value of Jegatheesan Street (Vetri Nagar Extension) 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 800 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 313% over this period.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in this area is charged at 7% of the guideline value or the sale price, whichever is higher.

What is the registration fee for properties in Jegatheesan Street?

The registration fee for properties in Jegatheesan Street is set at 2% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Jegatheesan Street?

The Sembiam Sub Registrar Office handles property registrations for Jegatheesan Street (Vetri Nagar Extension), located at 5, Papermills Road, Sembiam, Chennai - 600011.