Guideline Value for Sri Jayendrar Street

Sri Jayendrar Street guideline value

The current guideline value of Sri Jayendrar Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Sri Jayendrar Street has changed

The guideline value for Sri Jayendrar Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023 and then to Rs 1,100 per sq.ft in the 2024 revision. The register has no figures for this street in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, there was a substantial increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 is an increase of 10% in the guideline value.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,650 per sq.ft, making the 2024 figure for Sri Jayendrar Street below this median.

• Sri Andal Nagar 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Sri Andal Nagar 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Sri Rajeswari Street: Rs 1,100 per sq.ft (2024)
• Sriram Colony: Rs 2,750 per sq.ft (2024)
• Somasundaram Street: Rs 1,320 per sq.ft (2024)
• SriSarpujandar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Jayendrar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Jayendrar Street?

Sri Jayendrar Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential component in the property registration process in Chitlapakkam. When a property is bought or sold, the guideline value serves as a reference point for calculating stamp duty and registration fees, ensuring that the transaction is properly documented and taxed according to government regulations.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. In such cases, the stamp duty is charged on the higher of the two amounts, ensuring compliance with the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Sri Jayendrar Street?

The current guideline value of Sri Jayendrar Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Sri Jayendrar Street?

Sri Jayendrar Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.

Where is the Sub Registrar Office for Sri Jayendrar Street located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.