Guideline Value for Jemi Housing

Jemi Housing guideline value

The current guideline value of Jemi Housing in Palnalloor village is Rs 200 per sq.ft, effective from the 2024 revision. This area falls under the Sunguvarchattram SRO and is classified as Residential Class II Type - I.

How the guideline value of Jemi Housing has changed

Over the years, the guideline value of Jemi Housing has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, where it continued to be Rs 200 per sq.ft. The 2017 revision recorded a lower value of Rs 134 per sq.ft, indicating a decrease of 33% from the 2012 figure. From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 200 per sq.ft.

The current guideline value, effective from 1 July 2024, remains at Rs 200 per sq.ft, showing no change from the previous year. It is noteworthy that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Palnalloor

In Palnalloor, 34 streets under the Sunguvarchattram SRO have a 2024 guideline value ranging from Rs 175 to Rs 471 per sq.ft, with the median value being Rs 200 per sq.ft. Jemi Housing's 2024 figure aligns with this median.

• Kalashetra Nagar: Rs 200 per sq.ft (2024)
• Greenwood Garden: Rs 200 per sq.ft (2024)
• Gayathiri Nagar: Rs 200 per sq.ft (2024)
• Madurai Meenakshi Nagar: Rs 200 per sq.ft (2024)
• MahaGanapathy Street: Rs 250 per sq.ft (2024)
• Colony School Street: Rs 175 per sq.ft (2024)

Stamp duty and registration fee for property in Jemi Housing

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, resulting in a total of Rs 18,000. It is important 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 details.

Which Sub Registrar Office covers Jemi Housing?

The Jemi Housing area is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Palnalloor. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is often used as a basis for calculating these fees, ensuring compliance with local regulations.

When registering a property, the guideline value helps establish a transparent and standardized method for valuing real estate transactions. This ensures that both parties are aware of the costs involved and that the registration process adheres to the statutory requirements set by the government.

Frequently asked questions

What is the current guideline value of Jemi Housing?

The current guideline value of Jemi Housing is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Jemi Housing has remained at Rs 200 per sq.ft from 2012 to 2024, with a notable increase of 49% from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023.

What are the stamp duty and registration fees for Jemi Housing?

For a 1,000 sq.ft plot at the guideline value of Rs 200 per sq.ft, the total guideline value is Rs 2,00,000. The stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Which SRO covers Jemi Housing?

The Sunguvarchattram Sub Registrar Office covers Jemi Housing, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

What is the land classification of Jemi Housing?

Jemi Housing is classified as Residential Class II Type - I, indicating its designation for residential use within the area.