Guideline Value for Jessan Street

Jessan Street guideline value

The current guideline value of Jessan Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village under the Triplicane SRO, classified as Mixed Type - I.

How the guideline value of Jessan Street has changed

Over the years, the guideline value of Jessan Street has seen significant changes. In the 2007 revision, the value was Rs 2,760 per sq.ft, which increased to Rs 8,000 per sq.ft in the 2012 revision. However, the 2017 revision marked a decrease to Rs 5,360 per sq.ft. The value then rose to Rs 8,000 per sq.ft in the 2023 revision, and currently stands at Rs 8,800 per sq.ft as of the 2024 revision. The changes between these revisions include a 190% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

It is important to note that the register has no figures for Jessan Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 219%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Jessan Street's 2024 figure above that median.

• John Mohammed Street: Rs 5,500 per sq.ft (2024)
• Jani John Khan Road 5th Lane: Rs 5,500 per sq.ft (2024)
• Jani John Khan Road 4th Lane: Rs 5,500 per sq.ft (2024)
• Jani John Khan Road 3rd Lane: Rs 5,500 per sq.ft (2024)
• Jani John Khan Road 2nd Lane: Rs 5,500 per sq.ft (2024)
• Jani John Khan Road 1st Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Jessan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, while the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jessan Street?

The Sub Registrar Office that covers Jessan Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Triplicane, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jessan Street?

The current guideline value of Jessan Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Jessan Street has changed significantly from Rs 2,760 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 219% over this period.

What are the stamp duty and registration fees for a property in Jessan Street?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office covers Jessan Street?

The Triplicane Sub Registrar Office covers Jessan Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What is the land classification of Jessan Street?

Jessan Street is classified as Mixed Type - I, which indicates its diverse usage for various types of properties.