Guideline Value for Jegavanthapuram

Jegavanthapuram guideline value

The current guideline value of Jegavanthapuram, located in Madambakkam village under the Selaiyur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Jegavanthapuram has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

Between the 2012 and 2024 revisions, the overall change in guideline value is also an increase of 8%. It is important to note that the register does not have figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, indicating that Jegavanthapuram's current rate is below the median.

• Jegajeevanram Street: Rs 1,600 per sq.ft (2024)
• Jems Daffodil Nagar: Rs 3,200 per sq.ft (2024)
• Jem's Meridian Nagar: Rs 2,700 per sq.ft (2024)
• Jayaprakash Narayan Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Jayaprakash Narayan Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Jayaprakash Narayan Nagar 1st Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Jegavanthapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jegavanthapuram?

The Jegavanthapuram area falls under 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 more details.

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

The guideline value plays a crucial role in property transactions as it helps determine the stamp duty and registration fees that buyers and sellers must pay during the registration process. When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that the transaction is officially recorded.

It is essential for both buyers and sellers to be aware of the current guideline value in their area, as it directly impacts the overall cost of property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Jegavanthapuram?

The current guideline value of Jegavanthapuram is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 8% over this period.

What are the other guideline values in Madambakkam?

Other streets in Madambakkam have varying guideline values, ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft.

What fees are associated with property transactions in Jegavanthapuram?

For property transactions in Jegavanthapuram, stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Jegavanthapuram located?

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