Guideline Value for JAI NAGAR

Jai Nagar guideline value

The current guideline value of Jai Nagar, located in Enambakkam village under the Oothukkottai SRO, is Rs 100 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Jai Nagar has changed

The guideline value for Jai Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 60 per sq.ft, which increased to Rs 40 per sq.ft in 2017. This marked a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 150%, reaching Rs 100 per sq.ft. The 2023 revision maintained this figure, and as of 2024, it remains at Rs 100 per sq.ft, showing no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 67% from Rs 60 per sq.ft in 2012 to Rs 100 per sq.ft in 2024.

Guideline values in Enambakkam

In Enambakkam, there are three streets under the Oothukkottai SRO that carry a 2024 guideline value, all set at Rs 100 per sq.ft. The median guideline value for these streets is also Rs 100 per sq.ft, placing Jai Nagar at this median value.

• Deepika Nagar: Rs 100 per sq.ft (2024)
• Sri Siddi Vinayagar Nagar: Rs 100 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 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Jai Nagar?

The Sub Registrar Office that covers Jai Nagar is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Enambakkam. It determines the amount of stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. 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 100 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2012 to Rs 100 per sq.ft in 2024, with a significant increase of 150% from 2017 to 2023.

What is the land classification of Jai Nagar?

Jai Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Oothukkottai Sub Registrar Office located?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, 602026, Chennai registration zone.

How is stamp duty calculated for property transactions in Jai Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 1,00,000 would incur a stamp duty of Rs 7,000 at 7%.