Guideline Value for J.NAGAR LAY OUT

J.Nagar Lay Out guideline value

The current guideline value of J.Nagar Lay Out, located in Sholinganallur - 1 village under the Neelankarai SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - V.

How the guideline value of J.Nagar Lay Out has changed

Since the 2017 revision, the guideline value for J.Nagar Lay Out has seen significant increases. The 2017 revision set the value at Rs 2,680 per sq.ft, which rose to Rs 4,000 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 has further increased the value to Rs 4,400 per sq.ft, a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing J.Nagar Lay Out's 2024 figure significantly above this median.

• J.J.P. Reacity: Rs 2,200 per sq.ft (2024)
• Jillian's Estate Pvt. Ltd.,: Rs 2,800 per sq.ft (2024)
• Jillan Estate Park: Rs 2,800 per sq.ft (2024)
• Kadakuttai 1st Street: Rs 1,700 per sq.ft (2024)
• Kadakuttai Main Street: Rs 1,700 per sq.ft (2024)
• Kadakuttai Main Street Extension: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in J.Nagar Lay Out

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, charged at 7%, would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. 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 J.Nagar Lay Out?

The Sub Registrar Office that covers J.Nagar Lay Out is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Sholinganallur - 1, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during property registration. This helps in avoiding any discrepancies that may arise during the transaction process.

Frequently asked questions

What is the current guideline value of J.Nagar Lay Out?

The current guideline value of J.Nagar Lay Out is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the land classification for J.Nagar Lay Out?

J.Nagar Lay Out is classified as Residential Special Type - V.

What are the stamp duty and registration fees for property in J.Nagar Lay Out?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value, which can be calculated using the total guideline value of the property.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.