Guideline Value for Jones Road (Lane)

Jones Road (Lane) guideline value

The current guideline value of Jones Road (Lane) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class III Type - I.

How the guideline value of Jones Road (Lane) has changed

The guideline value for Jones Road (Lane) has seen several revisions over the years. The earliest recorded guideline value is from 2007, set at Rs 1,500 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 233%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 5,500 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value for Jones Road (Lane) is above this median.

• Jones Road (West): Rs 7,000 per sq.ft (2024)
• John Kennedy Street: Rs 4,100 per sq.ft (2024)
• Jothi Ramalingam 1st Street: Rs 4,100 per sq.ft (2024)
• Jothi Ramalingam 2nd Street: Rs 4,100 per sq.ft (2024)
• Jothi Ramalingam Lane Block 83: Rs 4,100 per sq.ft (2024)
• Jothi Ramalingam Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Jones Road (Lane)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty is calculated at 7%, which amounts to Rs 3,85,000, and the registration fee at 2% is Rs 1,10,000. Therefore, the total cost for stamp duty and registration fee together is Rs 4,95,000. It is important to note that 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 Jones Road (Lane)?

The Sub Registrar Office that covers Jones Road (Lane) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jones Road (Lane)?

The current guideline value of Jones Road (Lane) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024. This reflects an overall increase of 267% over the years.

What are the stamp duty and registration fees for properties on Jones Road (Lane)?

For a property valued at Rs 55,00,000, the stamp duty is Rs 3,85,000 and the registration fee is Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers this area?

The Ashok Nagar Sub Registrar Office covers Jones Road (Lane) and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and location. It is updated periodically to reflect changes in the real estate market.