Guideline Value for DR.JAYALALITHA NAGAR

Dr.Jayalalitha Nagar guideline value

The current guideline value of Dr.Jayalalitha Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Dr.Jayalalitha Nagar has changed

The guideline value for Dr.Jayalalitha Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, it saw a decrease of 33% to Rs 1,206 per sq.ft in 2017. The value then rose sharply by 49% to Rs 1,800 per sq.ft in 2023, and finally, it increased by 6% to the current value of Rs 1,900 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 280%. This reflects the changes in the area's development and demand over the years.

Guideline values in Thiruvottiyur

In Thiruvottiyur village, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Dr.Jayalalitha Nagar is below this median.

• Dr.Kalaignar Nagars/Cross Streets/Extension: Rs 1,900 per sq.ft (2024)
• Dr.AMBETHKAR NAGAR: Rs 1,900 per sq.ft (2024)
• East Ellaiamman Koil Street: Rs 3,300 per sq.ft (2024)
• East Kulakkarai Street: Rs 3,700 per sq.ft (2024)
• Egavaliyamman Koil Street: Rs 3,300 per sq.ft (2024)
• Egavalliamman Koil Street(Othavadai Street): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.Jayalalitha Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. 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 more details.

Which Sub Registrar Office covers Dr.Jayalalitha Nagar?

The Sub Registrar Office that covers Dr.Jayalalitha Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees. Buyers should be aware that if the sale price exceeds the guideline value, the stamp duty will be calculated based on the sale price, ensuring that the transaction reflects the true market conditions.

Frequently asked questions

What is the current guideline value of Dr.Jayalalitha Nagar?

The current guideline value of Dr.Jayalalitha Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 280% over the years.

What is the land classification of Dr.Jayalalitha Nagar?

Dr.Jayalalitha Nagar is classified as Residential Class I Type - III.

What are the stamp duty rates for property in Dr.Jayalalitha Nagar?

The stamp duty for property transactions in Dr.Jayalalitha Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Dr.Jayalalitha Nagar?

The Sub Registrar Office for Dr.Jayalalitha Nagar is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.