Guideline Value for JAIHITH NAGAR

Jaihith Nagar guideline value

The current guideline value of Jaihith Nagar, located in Ernavur village under the Thiruvottiyur SRO, is Rs 1,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Jaihith Nagar has changed

The guideline value for Jaihith Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 350 per sq.ft. This figure saw a significant increase in the 2012 revision to Rs 1,700 per sq.ft, marking a rise of 386%. However, the 2017 revision saw a decrease to Rs 1,139 per sq.ft, a drop of 33%. The value then increased again to Rs 1,700 per sq.ft in the 2023 revision, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,800 per sq.ft, which is a 6% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register. Overall, from 2007 to 2024, the guideline value has increased by 414%.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. Jaihith Nagar's 2024 figure of Rs 1,800 per sq.ft is above this median.

• Jayalailtha nagar: Rs 1,600 per sq.ft (2024)
• Indra Gandhi Kuppam: Rs 1,400 per sq.ft (2024)
• Jayanthi Nagar: Rs 1,600 per sq.ft (2024)
• Jothi Nagar/Main Roads/Cross Streets: Rs 1,800 per sq.ft (2024)
• Kamalammal Street: Rs 1,800 per sq.ft (2024)
• Girija Nagar Extension: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jaihith Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total fees together to Rs 1,62,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jaihith Nagar?

The Sub Registrar Office that covers Jaihith Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Ernavur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer purchases a property, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps in maintaining transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Jaihith Nagar?

The current guideline value of Jaihith Nagar is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 350 per sq.ft in 2007 to Rs 1,800 per sq.ft in 2024, marking an overall increase of 414%.

What is the land classification for Jaihith Nagar?

The land classification for Jaihith Nagar is Residential Special Type - II.

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

The Sub Registrar Office for Jaihith Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Jaihith Nagar?

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 rate, the total stamp duty would be Rs 1,26,000.