Guideline Value for J.R. NAGAR

J.R. Nagar guideline value

The current guideline value of J.R. Nagar is Rs 220 per sq.ft, effective from 1 July 2024. This street is located in Vallur village, under the jurisdiction of the Thiruvottiyur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of J.R. Nagar has changed

The guideline value for J.R. Nagar has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 134 per sq.ft. This was followed by the 2023 revision, which increased the value to Rs 200 per sq.ft, marking a significant rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 220 per sq.ft, reflecting a further increase of 10% from the previous year.

There are no recorded figures for J.R. Nagar in the revisions from 2002, 2003, 2007, and 2012. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 551 per sq.ft. The median guideline value for these streets is Rs 220 per sq.ft, which is the same as the current value for J.R. Nagar.

• Joseph Street: Rs 220 per sq.ft (2024)
• Kairali Nagar: Rs 220 per sq.ft (2024)
• Jaya Nagar: Rs 220 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 220 per sq.ft (2024)
• Kamatchi Nagar: Rs 220 per sq.ft (2024)
• Kamatchi Puram: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in J.R. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total charges to Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers J.R. Nagar?

The Sub Registrar Office that covers J.R. Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Vallur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees payable to the government. This value helps in establishing a standard for property transactions in the area.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of property transactions. The guideline value is updated periodically, reflecting changes in the real estate market and ensuring that property values are accurately assessed during registration.

Frequently asked questions

What is the current guideline value of J.R. Nagar?

The current guideline value of J.R. Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 134 per sq.ft in 2017 to Rs 220 per sq.ft in 2024. This represents a total increase of 64% over this period.

What is the registration office for J.R. Nagar?

The registration office for J.R. Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in J.R. Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 2,20,000, the stamp duty would be Rs 15,400.

What are the other streets in Vallur with the same guideline value?

Other streets in Vallur with the same guideline value of Rs 220 per sq.ft include Joseph Street, Kairali Nagar, Jaya Nagar, Jayalakshmi Nagar, Kamatchi Nagar, and Kamatchi Puram.