Guideline Value for JAI NAGAR PHASE-II

Jai Nagar Phase-II guideline value

The current guideline value for Jai Nagar Phase-II in Janagipuram village under the Madurandakam SRO is Rs 200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Jai Nagar Phase-II has changed

In the 2012 revision, the guideline value was set at Rs 200 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft, marking a significant drop of 33%. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision maintains this rate, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, there has been no net change in the guideline value.

Guideline values in Janagipuram

In Janagipuram village, there are five streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 448 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value for Jai Nagar Phase-II is below this median.

• Jai Nagar: Rs 200 per sq.ft (2024)
• Jr Garden: Rs 300 per sq.ft (2024)
• Mary Joseph Nagar: Rs 448 per sq.ft (2024)
• Vip City Central Square Radha Nagar: Rs 300 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 rate of Rs 200 per sq.ft, the guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, making a total of Rs 18,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jai Nagar Phase-II?

The Sub Registrar Office that covers Jai Nagar Phase-II is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Janagipuram. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the government records.

When buying or selling property, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This means that the stamp duty will be calculated based on either the guideline value or the actual sale price, whichever is higher.

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 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, including a decrease to Rs 134 per sq.ft in 2017, followed by an increase back to Rs 200 per sq.ft in 2023 and 2024. Overall, from 2012 to 2024, there has been no net change.

What are the stamp duty and registration fees for properties in Jai Nagar Phase-II?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I visit for property transactions in Jai Nagar Phase-II?

The Madurandakam Sub Registrar Office covers Jai Nagar Phase-II. It is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the land classification for Jai Nagar Phase-II?

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