Guideline Value for JAI BALAJI NAGAR ANNEX

Jai Balaji Nagar Annex guideline value

The current guideline value of Jai Balaji Nagar Annex is Rs 3,550 per sq.ft, effective from 1 July 2024. This area is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Jai Balaji Nagar Annex has changed

The guideline value for Jai Balaji Nagar Annex has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 332 per sq.ft. It increased to Rs 411 per sq.ft in 2003, marking a change of +24%. The value further rose to Rs 1,100 per sq.ft in 2007, which is an increase of +168%. The 2012 revision saw the value at Rs 3,200 per sq.ft, reflecting an increase of +191% from the previous revision. However, in the 2017 revision, the value dropped to Rs 2,144 per sq.ft, showing a decrease of -33%.

In the subsequent revisions, the guideline value rose again to Rs 3,200 per sq.ft in 2023, which was a significant increase of +49% from 2017. The latest revision in 2024 has set the value at Rs 3,550 per sq.ft, indicating an increase of +11% from the previous year. Overall, from 2002 to 2024, there has been a substantial increase of +969% in the guideline value for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, placing Jai Balaji Nagar Annex's 2024 figure above this median.

• Jai Balaji Nagar: Rs 3,550 per sq.ft (2024)
• Jagannathan Street: Rs 3,100 per sq.ft (2024)
• Indira Nagar: Rs 3,100 per sq.ft (2024)
• High View Nagar (Rayala Nagar Annexe): Rs 3,850 per sq.ft (2024)
• Hari Shankar Street: Rs 3,100 per sq.ft (2024)
• Hariharan Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Balaji Nagar Annex

For a 1,000 sq.ft plot at the current rate of Rs 3,550 per sq.ft, the guideline value would be Rs 35,50,000. The stamp duty at 7% would be Rs 2,48,500, and the registration fee at 2% would be Rs 71,000, bringing the total to Rs 3,19,500. 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 Jai Balaji Nagar Annex?

The Sub Registrar Office that covers Jai Balaji Nagar Annex is the Chennai South Joint II 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property transfer process.

When buying or selling property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jai Balaji Nagar Annex?

The current guideline value of Jai Balaji Nagar Annex is Rs 3,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 332 per sq.ft in 2002 to Rs 3,550 per sq.ft in 2024, marking an overall increase of +969%.

What is the registration office for Jai Balaji Nagar Annex?

The registration office for Jai Balaji Nagar Annex is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Jai Balaji Nagar Annex?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 2,48,500 based on the current guideline value.

What is the land classification for Jai Balaji Nagar Annex?

The land classification for Jai Balaji Nagar Annex is Residential Class I Type - II, which indicates the type of residential development permitted in the area.