Guideline Value for JAI NAGAR

Jai Nagar guideline value

The current guideline value of Jai Nagar, located in Kolumanivakkam village under the Kunrathur SRO, is Rs 990 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Jai Nagar has changed

The guideline value for Jai Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and currently stands at Rs 990 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2017 to 2023, there was a notable increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, comparing the values from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Kolumanivakkam

In Kolumanivakkam, there are 47 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 880 to Rs 3,290 per sq.ft, with a median value of Rs 1,350 per sq.ft. The guideline value for Jai Nagar is below this median.

• Hari Sai Nagar: Rs 3,290 per sq.ft (2024)
• J.R Garden ஜெ.ஆர். கார்ட‌ன்: Rs 2,630 per sq.ft (2024)
• Golden City: Rs 1,210 per sq.ft (2024)
• Eswari Nagar Extension: Rs 2,630 per sq.ft (2024)
• Eswari Nagar: Rs 2,630 per sq.ft (2024)
• Krishnambal Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. 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 Nagar?

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

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

The guideline value plays a crucial role during the registration process when buying or selling property in Kolumanivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jai Nagar?

The current guideline value of Jai Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increasing to Rs 900 in 2023, and currently at Rs 990 in 2024.

What is the land classification for Jai Nagar?

The land classification for Jai Nagar is Residential Special Type - II, indicating its zoning for residential purposes.

What are the stamp duty and registration fees for property in Jai Nagar?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which Sub Registrar Office serves Jai Nagar?

The Kunrathur Sub Registrar Office serves Jai Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.