Guideline Value for Jinna Street/Labbai Lane

Jinna Street/Labbai Lane guideline value

The current guideline value of Jinna Street/Labbai Lane 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 Street/Labbai Lane has changed

Over the years, the guideline value for Jinna Street/Labbai Lane has seen significant changes. The earliest recorded figure is from 2003, where it was Rs 293 per sq.ft. It increased to Rs 650 per sq.ft in 2007, marking a substantial rise of 122%. The 2012 revision saw a further increase to Rs 2,500 per sq.ft, which was a 285% jump. However, in 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%. The 2023 revision brought it back up to Rs 2,500 per sq.ft, and the latest 2024 revision has set the guideline value at Rs 2,800 per sq.ft, a 12% increase from the previous year.

In summary, from 2003 to 2024, the overall increase in the guideline value is 856%. Notably, there is no recorded figure for the year 2002 in the register for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with a 2024 guideline value 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 Street/Labbai Lane's 2024 figure below that median.

• Jinna Lane/Labbai Street: 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 Street/Labbai Lane

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 amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jinna Street/Labbai Lane?

The Sub Registrar Office that covers Jinna Street/Labbai Lane 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 plays a crucial role in the registration process of property transactions in Adambakkam. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Jinna Street/Labbai Lane 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 293 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 856% over the years.

What is the land classification for Jinna Street/Labbai Lane?

Jinna Street/Labbai Lane is classified as Residential Class II Type - II under the Alandur SRO.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 28,00,000, with stamp duty at Rs 1,96,000 and registration fees at Rs 56,000, totaling Rs 2,52,000.

Which office handles registrations for Jinna Street/Labbai Lane?

The Alandur Sub Registrar Office handles registrations for Jinna Street/Labbai Lane, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.