Guideline Value for Jerusalem Nagar 5th Street

Jerusalem Nagar 5th Street guideline value

The current guideline value of Jerusalem Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - II.

How the guideline value of Jerusalem Nagar 5th Street has changed

The guideline value for Jerusalem Nagar 5th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has brought the guideline value back to Rs 2,200 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no figures available in the register for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Jerusalem Nagar 5th Street.

• Jerusalem Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Jerusalem Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Jerusalem Nagar: Rs 2,530 per sq.ft (2024)
• Jerusalam NagarExt: Rs 2,200 per sq.ft (2024)
• Jerusalem Nagar (Joseph Street): Rs 2,530 per sq.ft (2024)
• Jeruselam Nagar Nehru Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jerusalem Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jerusalem Nagar 5th Street?

The Sub Registrar Office that covers Jerusalem Nagar 5th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Irumpuliyur, as it determines the minimum price at which a property can be registered. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standard valuation rather than arbitrary figures.

When a property is sold, the guideline value helps in assessing the transaction's legitimacy and provides a clear framework for taxation. Buyers and sellers must be aware of these values to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Jerusalem Nagar 5th Street?

The current guideline value of Jerusalem Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Jerusalem Nagar 5th Street?

Jerusalem Nagar 5th Street is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Jerusalem Nagar 5th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.