Guideline Value for JAI SAI NAGAR

Jai Sai Nagar guideline value

The current guideline value of Jai Sai Nagar, located in Sholavaram village under the Redhills SRO, is Rs 1,320 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Jai Sai Nagar has changed

The guideline value for Jai Sai Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 1,200 per sq.ft. Prior to that, the 2017 revision recorded a guideline value of Rs 804 per sq.ft, marking a significant increase of 49% to the 2023 figure. The register does not provide figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 64%, highlighting a substantial rise in property valuation in this period.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for Jai Sai Nagar is above this median, indicating a higher valuation compared to many other streets in the area.

• Indra Garden: Rs 770 per sq.ft (2024)
• Kakkan Street: Rs 550 per sq.ft (2024)
• Gomathiamman Nagar Annex XVIII: Rs 550 per sq.ft (2024)
• Gnt Road: Rs 1,650 per sq.ft (2024)
• Kamarajar Street: Rs 550 per sq.ft (2024)
• Kamaraj Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Sai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your potential fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jai Sai Nagar?

The Sub Registrar Office that covers Jai Sai Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Sholavaram. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

Buyers and sellers must be aware that the guideline value is used to assess the financial obligations related to the transaction, ensuring compliance with local regulations. It is essential to refer to the latest guidelines to understand the financial implications of property transactions.

Frequently asked questions

What is the current guideline value of Jai Sai Nagar?

The current guideline value of Jai Sai Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the land classification for Jai Sai Nagar?

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

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

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

How is stamp duty calculated for properties in Jai Sai Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at 7%.