Guideline Value for JAGATHAMBAK NAGAR

Jagathambak Nagar guideline value

The current guideline value of Jagathambak Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Vanagaram village under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Jagathambak Nagar has changed

The guideline value for Jagathambak Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 1,200 per sq.ft. The most recent revision in 2024 has increased the guideline value to Rs 1,320 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no recorded figures for Jagathambak Nagar in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value in the area is Rs 1,660 per sq.ft, placing Jagathambak Nagar's 2024 figure below this median.

• Jayalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Jayalakshmi Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Jayalakshmi Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Jayalakshmi Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Jayalakshmi Nagar 4th Street: Rs 1,650 per sq.ft (2024)
• Jayaram Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Jagathambak Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. 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 Jagathambak Nagar?

The Sub Registrar Office that covers Jagathambak Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vanagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved. This helps maintain transparency in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Jagathambak Nagar?

The current guideline value of Jagathambak Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Jagathambak Nagar?

Jagathambak Nagar is classified as Residential Class IV Type - II.

What are the guideline values of other streets in Vanagaram?

Other streets in Vanagaram have varying guideline values, with Jayalakshmi Nagar and its first to fourth streets valued at Rs 1,650 per sq.ft, while Jayaram Nagar is valued at Rs 1,320 per sq.ft.

Where can I find the Sub Registrar Office for Jagathambak Nagar?

The Sub Registrar Office for Jagathambak Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find more information by visiting the relevant link.