Guideline Value for JAIGANESH NAGAR PART-I

Jaiganesh Nagar Part-I guideline value

The current guideline value of Jaiganesh Nagar Part-I is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village and falls under the Pallavaram SRO. The land classification for this street is Mixed Type - II.

How the guideline value of Jaiganesh Nagar Part-I has changed

The guideline value of Jaiganesh Nagar Part-I has undergone several revisions over the years. The oldest recorded revision is from 2012, where the value was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, and then again rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Specifically, the changes between the revisions are as follows: from 2012 to 2017, there was a decrease of 33%, while the increase from 2017 to 2023 was 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Nanmangalam

Nanmangalam village has 139 streets under the Pallavaram SRO carrying a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Jaiganesh Nagar Part-I is above this median.

• Iyyappa Nagar: Rs 3,850 per sq.ft (2024)
• INDRA NAGAR(NEAR BY SITHARTH NAGAR 1st STREET): Rs 1,980 per sq.ft (2024)
• Indira Nagar 1 To 8 Streets: Rs 1,980 per sq.ft (2024)
• Hasthinapuram Salai 1 To 10 Streets: Rs 1,960 per sq.ft (2024)
• Hasthinapuram Salai: Rs 1,960 per sq.ft (2024)
• G.P. Samy Nagar Layout: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jaiganesh Nagar Part-I

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. Please 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 information.

Which Sub Registrar Office covers Jaiganesh Nagar Part-I?

The Sub Registrar Office that covers Jaiganesh Nagar Part-I is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Nanmangalam. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the transaction aligns with the current guideline value to avoid any discrepancies. This value is regularly updated, and it is advisable to check the latest figures before proceeding with any property transactions.

Frequently asked questions

What is the current guideline value of Jaiganesh Nagar Part-I?

The current guideline value of Jaiganesh Nagar Part-I is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. The value was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Jaiganesh Nagar Part-I?

The land classification for Jaiganesh Nagar Part-I is Mixed Type - II. This classification indicates the type of development and usage permitted in the area.

Where can I find the Sub Registrar Office for Jaiganesh Nagar Part-I?

The Sub Registrar Office for Jaiganesh Nagar Part-I is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for property in Jaiganesh Nagar Part-I?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000.