Guideline Value for B & C STAFF QUARTERS (JAI NAGAR)

B & C Staff Quarters (Jai Nagar) guideline value

The current guideline value for B & C Staff Quarters (Jai Nagar) is Rs 4,900 per sq.ft, effective from 1 July 2024. This property is located in Purasaivakkam village, under the Purasaivakkam SRO, and falls under the Residential Class III Type - II land classification.

How the guideline value of B & C Staff Quarters (Jai Nagar) has changed

The guideline value for B & C Staff Quarters (Jai Nagar) has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, it saw a decrease to Rs 3,015 per sq.ft in 2017. The subsequent 2023 revision raised it to Rs 4,500 per sq.ft, and the latest 2024 revision has set the value at Rs 4,900 per sq.ft.

In terms of percentage changes, from 2007 to 2012, the guideline value increased by 150%. It then decreased by 33% from 2012 to 2017. The value rose by 49% from 2017 to 2023, and the latest revision shows an increase of 9% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 172%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, making the guideline value for B & C Staff Quarters (Jai Nagar) below that median.

• Barracks Gate Road: Rs 5,500 per sq.ft (2024)
• Barracks Gate Lane: Rs 5,500 per sq.ft (2024)
• Barnaby Road Lane: Rs 7,700 per sq.ft (2024)
• Barnaby Road: Rs 13,200 per sq.ft (2024)
• Barnaby Avenue: Rs 13,200 per sq.ft (2024)
• Bhakthavatchalam Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in B & C Staff Quarters (Jai Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total charges to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers B & C Staff Quarters (Jai Nagar)?

The B & C Staff Quarters (Jai Nagar) falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value, as it influences the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value for B & C Staff Quarters (Jai Nagar)?

The current guideline value for B & C Staff Quarters (Jai Nagar) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 172% over the years.

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

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which office handles property registrations in this area?

The Purasaivakkam Sub Registrar Office handles property registrations for B & C Staff Quarters (Jai Nagar), located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the significance of the guideline value in property transactions?

The guideline value serves as a minimum benchmark for property registration and is used to calculate stamp duty and registration fees. It ensures that properties are registered at an appropriate value, protecting both the buyer and the government’s interests.