Guideline Value for JAI NAGAR

Jai Nagar guideline value

The current guideline value of Jai Nagar, located in Thiruvancheri village under the Pallavaram SRO, is Rs 3,850 per sq.ft. This value is applicable from the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Jai Nagar has changed

Over the years, the guideline value for Jai Nagar has seen several revisions. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which is an increase from the 2023 revision of Rs 3,500 per sq.ft, marking a change of +10%. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Looking back further, the guideline value was Rs 3,500 per sq.ft in 2023, and there are no recorded figures for the previous revisions, including 2017, 2012, 2007, 2003, and 2002. The current value of Rs 3,850 per sq.ft is significantly above the median guideline value of Rs 1,980 per sq.ft for the 70 streets in Thiruvancheri under the Pallavaram SRO.

Guideline values in Thiruvancheri

In Thiruvancheri, the guideline values for various streets range from Rs 1,100 to Rs 5,000 per sq.ft, with the median being Rs 1,980 per sq.ft. Jai Nagar's 2024 guideline value of Rs 3,850 per sq.ft is above this median.

• Jalan Kennady Street: Rs 1,980 per sq.ft (2024)
• Jaganathan Street: Rs 1,980 per sq.ft (2024)
• Iyyanar Street: Rs 1,980 per sq.ft (2024)
• Jayalalitha Street: Rs 1,100 per sq.ft (2024)
• Irataimalai Srinivasan Street: Rs 1,980 per sq.ft (2024)
• Jothi Nagar: Rs 2,530 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 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000. Together, the total cost for these fees would be Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and 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 Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thiruvancheri. It is the basis for calculating the stamp duty and registration fees, which are mandatory when registering a property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to determine the applicable fees, which are calculated based on the higher of the guideline value or the sale price. 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 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased by +10% from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024.

What is the land classification for Jai Nagar?

The land classification for Jai Nagar is Residential Special Type - III.

Where can I find the Sub Registrar Office for Jai Nagar?

The Sub Registrar Office for Jai Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated in Thiruvancheri?

Stamp duty and registration fees in Thiruvancheri are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000.