Guideline Value for Jinna Lane/Labbai Street

Jinna Lane/Labbai Street guideline value

The current guideline value of Jinna Lane/Labbai Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class II Type - II.

How the guideline value of Jinna Lane/Labbai Street has changed

The guideline value for Jinna Lane/Labbai Street has seen significant changes over the years. In 2002, the guideline value was Rs 257 per sq.ft. It increased to Rs 293 per sq.ft in 2003, marking a rise of 14%. The value then continued to grow, reaching Rs 650 per sq.ft in 2007, which was a substantial increase of 122%. By 2012, the value had risen to Rs 2,500 per sq.ft, reflecting a remarkable growth of 285%. However, this value dropped by 33% to Rs 1,675 per sq.ft in 2017.

From 2017 to 2023, the guideline value surged by 49%, reaching Rs 2,500 per sq.ft. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, which is a 12% increase from the previous year. There are no figures available in the register for other years for this street.

Guideline values in Adambakkam

Adambakkam village has a total of 569 streets under the Alandur SRO, with guideline values ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Jinna Lane/Labbai Street's 2024 figure below that median.

• Jinna Street/Labbai Lane: Rs 2,800 per sq.ft (2024)
• Jeevan Nagar Main Road: Rs 5,000 per sq.ft (2024)
• Jeevan Nagar 5th street: Rs 5,000 per sq.ft (2024)
• Jeevan Nagar 4th street: Rs 5,000 per sq.ft (2024)
• Jeevan Nagar 3rd Street: Rs 5,000 per sq.ft (2024)
• Jeevan Nagar 2nd Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Jinna Lane/Labbai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. 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 further calculations.

Which Sub Registrar Office covers Jinna Lane/Labbai Street?

The Sub Registrar Office that covers Jinna Lane/Labbai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial reference for property transactions in Adambakkam. It is used to determine the stamp duty and registration fees applicable during the buying or selling process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately calculate the costs associated with property transactions.

During registration, the guideline value serves as a benchmark for the minimum value of the property. This ensures that the property is not undervalued, which could lead to discrepancies in tax calculations and potential legal issues.

Frequently asked questions

What is the current guideline value of Jinna Lane/Labbai Street?

The current guideline value of Jinna Lane/Labbai Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 257 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Adambakkam?

The median guideline value for streets in Adambakkam is Rs 3,900 per sq.ft, which is above the current value of Jinna Lane/Labbai Street.

What are the stamp duty and registration fees for properties in Jinna Lane/Labbai Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total cost would be Rs 2,52,000.

Where is the Sub Registrar Office for Jinna Lane/Labbai Street located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.