Guideline Value for JAGADEESWARI NAGAR

Jagadeeswari Nagar guideline value

The current guideline value of Jagadeeswari Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Jagadeeswari Nagar has changed

The guideline value for Jagadeeswari Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 66 per sq.ft, which rose to Rs 1,200 per sq.ft in 2012, marking an increase of 1718%. However, between 2012 and 2017, the value decreased by 33% to Rs 804 per sq.ft. The 2023 revision set the value at Rs 1,200 per sq.ft, which was an increase of 49% from the previous figure. As of the 2024 revision, the guideline value stands at Rs 1,300 per sq.ft, reflecting an 8% increase from 2023.

There are no figures available for the years 2003 and 2007 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1870%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value of Jagadeeswari Nagar is below this median.

• Iyyappa Nagar (Near Vanasakthi Nagar): Rs 2,700 per sq.ft (2024)
• Jai Nagar: Rs 2,900 per sq.ft (2024)
• JAMBUGESWARA NAGAR 1st. STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 2nd STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 3rd STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 4th STREET: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Jagadeeswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jagadeeswari Nagar?

The Jagadeeswari Nagar area is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Korattur. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with the registration requirements.

When registering a property, the guideline value serves as a benchmark for calculating the costs associated with the transaction. This ensures that both parties are aware of the financial implications of the sale, as the duty is charged based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Jagadeeswari Nagar?

The current guideline value of Jagadeeswari Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 66 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Jagadeeswari Nagar?

Jagadeeswari Nagar is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for properties in Jagadeeswari Nagar?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations in Jagadeeswari Nagar?

The Villivakkam Sub Registrar Office handles property registrations for Jagadeeswari Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.