Guideline Value for JAI NAGAR

Jai Nagar guideline value

The current guideline value of Jai Nagar, Karanodai village, under the Redhills SRO is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Jai Nagar has changed

The guideline value for Jai Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then fell to Rs 268 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 400 per sq.ft, and the latest 2024 revision raised it further to Rs 440 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Karanodai

Karanodai village has a total of 38 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,210 per sq.ft, placing Jai Nagar's 2024 figure below that median.

• J.P. Nagar: Rs 1,650 per sq.ft (2024)
• Gnt Road: Rs 1,650 per sq.ft (2024)
• Ganga Nagar: Rs 550 per sq.ft (2024)
• Ganesh Nagar: Rs 1,650 per sq.ft (2024)
• Ganapathy Nagar: Rs 440 per sq.ft (2024)
• Eswaran Nagar: Rs 1,650 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees together to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jai Nagar?

The Sub Registrar Office covering Jai Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Karanodai. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when acquiring property.

When selling a property, the guideline value helps establish a fair price for the transaction, ensuring that all parties are aware of the legally recognized value of the property being exchanged.

Frequently asked questions

What is the current guideline value of Jai Nagar?

The current guideline value of Jai Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What are the other streets in Karanodai with their guideline values?

Other streets in Karanodai include J.P. Nagar and Gnt Road, both at Rs 1,650 per sq.ft; Ganga Nagar at Rs 550 per sq.ft; Ganesh Nagar and Eswaran Nagar at Rs 1,650 per sq.ft; and Ganapathy Nagar at Rs 440 per sq.ft.

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

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Where is the Sub Registrar Office for Jai Nagar located?

The Sub Registrar Office for Jai Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.