Guideline Value for JAI NAGAR PHASE II

Jai Nagar Phase II guideline value

The current guideline value for Jai Nagar Phase II is Rs 1,210 per sq.ft. This area is located in Malayambakkam village and falls under the Kunrathur SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Jai Nagar Phase II has changed

The guideline value for Jai Nagar Phase II has undergone several revisions over the years. In 2012, the value was set at Rs 1,100 per sq.ft. This figure was then revised to Rs 737 per sq.ft in 2017, marking a decrease of 33%. Following that, the value increased significantly to Rs 1,100 per sq.ft in 2023, and then to Rs 1,210 per sq.ft in 2024, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for this street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft. The median value for these streets is Rs 935 per sq.ft, placing Jai Nagar Phase II's 2024 figure above that median.

• Jayalakshmi Nagar: Rs 800 per sq.ft (2024)
• Jayalakshmi Nagar Anex - 1: Rs 800 per sq.ft (2024)
• Jayalakshmi Nagar Annexure 2: Rs 1,650 per sq.ft (2024)
• Jayalakshmi Nagar Annexure -III: Rs 1,650 per sq.ft (2024)
• Hari Sai Nagar: Rs 800 per sq.ft (2024)
• Gangai Amman Koil St: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Nagar Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total fees together to Rs 1,08,900. It is essential 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 precise calculations.

Which Sub Registrar Office covers Jai Nagar Phase II?

The Sub Registrar Office that covers Jai Nagar Phase II is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Malayambakkam. When you buy or sell a property, the guideline value is used to determine the applicable stamp duty and registration fees based on the property's value.

It is important to ensure that the sale price is either equal to or higher than the guideline value, as the duty is charged on the higher of the two. This ensures that all property transactions are fairly assessed and documented.

Frequently asked questions

What is the current guideline value of Jai Nagar Phase II?

The current guideline value of Jai Nagar Phase II is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2023 to Rs 1,210 per sq.ft in 2024, an increase of 10%. It was Rs 737 per sq.ft in 2017 and Rs 1,100 per sq.ft in 2012.

What is the land classification of Jai Nagar Phase II?

The land classification for Jai Nagar Phase II is Residential Special Type - I, indicating its designated use for residential purposes.

What are the other streets in Malayambakkam?

Other streets in Malayambakkam include Jayalakshmi Nagar, Jayalakshmi Nagar Anex - 1, Jayalakshmi Nagar Annexure 2, Jayalakshmi Nagar Annexure -III, Hari Sai Nagar, and Gangai Amman Koil St, with varying guideline values.

Where can I find the registration office for Jai Nagar Phase II?

The registration office for Jai Nagar Phase II is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.