Guideline Value for JAGAN NAGAR

Jagan Nagar guideline value

The current guideline value of Jagan Nagar is Rs 485 per sq.ft, effective from 1 July 2024. This street is located in Vichoor_B village and falls under the Thiruvottiyur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Jagan Nagar has changed

The guideline value for Jagan Nagar has undergone several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 295 per sq.ft. This increased to Rs 441 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 set the guideline value at Rs 485 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Vichoor_B

In Vichoor_B, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft. The median value is Rs 485 per sq.ft, which matches the current guideline value for Jagan Nagar.

• Jagan Nagar Ext: Rs 485 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 485 per sq.ft (2024)
• I.J Puram: Rs 485 per sq.ft (2024)
• Jovan Nagar: Rs 485 per sq.ft (2024)
• Kamaraj Nagar: Rs 440 per sq.ft (2024)
• Ganapathi Nagar: Rs 485 per sq.ft (2024)

Stamp duty and registration fee for property in Jagan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 485 per sq.ft, the guideline value amounts to Rs 4,85,000. The stamp duty at 7% would be Rs 33,950, and the registration fee at 2% would be Rs 9,700, making the total Rs 43,650. 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 information.

Which Sub Registrar Office covers Jagan Nagar?

The Sub Registrar Office that covers Jagan 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 Vichoor_B

The guideline value is a critical factor in the registration process when buying or selling property in Vichoor_B. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jagan Nagar?

The current guideline value of Jagan Nagar is Rs 485 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 295 per sq.ft in 2017 to Rs 441 per sq.ft in 2023, and now to Rs 485 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the other streets with similar guideline values in Vichoor_B?

Other streets in Vichoor_B with a guideline value of Rs 485 per sq.ft in 2024 include Jagan Nagar Ext, Jayalakshmi Nagar, I.J Puram, Jovan Nagar, and Ganapathi Nagar. Kamaraj Nagar has a slightly lower value of Rs 440 per sq.ft.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. This office handles the registration of properties in Jagan Nagar.

How is stamp duty calculated for properties in Jagan Nagar?

Stamp duty for properties in Jagan Nagar is calculated at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable, which can be calculated using the available online tools.