Guideline Value for JAIHIND NAGAR

Jaihind Nagar guideline value

The current guideline value of Jaihind Nagar, located in Ikkadu village under the Tiruvallur Joint 1 SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Jaihind Nagar has changed

Over the years, the guideline value of Jaihind Nagar has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 268 per sq.ft. This was followed by a significant increase in the 2023 revision, bringing the value back to Rs 400 per sq.ft. The 2024 revision maintained this value, reflecting no change from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023. However, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has remained stable, showing no net change.

Guideline values in Ikkadu

In Ikkadu village, there are 51 streets under the Tiruvallur Joint 1 SRO that have a 2024 guideline value ranging from Rs 100 to Rs 1,400 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Jaihind Nagar aligns with this median.

• Gomathi Amman Nagar Annex- Xx: Rs 300 per sq.ft (2024)
• Kalyana Kuppam Street: Rs 300 per sq.ft (2024)
• G.G. Nagar: Rs 400 per sq.ft (2024)
• Karpagatharu Nagar-Phase-II: Rs 500 per sq.ft (2024)
• Elumalai Garden: Rs 626 per sq.ft (2024)
• Keizpathy Street: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Jaihind Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, leading to a total of Rs 36,000 for these charges. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jaihind Nagar?

The Sub Registrar Office covering Jaihind Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ikkadu. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When a property transaction occurs, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. 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 Jaihind Nagar?

The current guideline value of Jaihind Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2012 to 2024, with a decrease to Rs 268 per sq.ft in 2017, followed by an increase back to Rs 400 per sq.ft in 2023.

What is the land classification of Jaihind Nagar?

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

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at Rs 400 per sq.ft, the total charges amount to Rs 36,000.

Where is the Sub Registrar Office for Jaihind Nagar located?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.