Guideline Value for JAIN COLONY

Jain Colony guideline value

The current guideline value of Jain Colony in Puliyur village, under the Kodambakkam SRO, is Rs 5,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Jain Colony has changed

The guideline value for Jain Colony has seen several revisions over the years. Starting from Rs 795 per sq.ft in 2002, it increased to Rs 873 per sq.ft in 2003, marking a 10% rise. The value further climbed to Rs 1,760 per sq.ft in 2007, reflecting a significant increase of 102%. By 2012, the value remained at Rs 4,900 per sq.ft, and it stayed the same until 2023.

In 2023, the guideline value was revised to Rs 4,900 per sq.ft, and then it increased to Rs 5,300 per sq.ft in 2024, which is an 8% increase. Overall, from 2002 to 2024, the guideline value has risen by 567%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft as of 2024. Jain Colony's current guideline value of Rs 5,300 per sq.ft is below the median value of Rs 5,800 per sq.ft for the village.

• Janaki Ammal Street: Rs 6,300 per sq.ft (2024)
• Janakiram Street: Rs 7,100 per sq.ft (2024)
• Jawaharlal Nehru Salai (Inner Ring Road): Rs 14,300 per sq.ft (2024)
• Jayabharatham Street: Rs 6,300 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 4,600 per sq.ft (2024)
• Jayammal Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Jain Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value would be Rs 53,00,000. The stamp duty at 7% would amount to Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, bringing the total to Rs 4,77,000. 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 Jain Colony?

The Jain Colony area falls under the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Puliyur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official valuation.

Additionally, the guideline value helps maintain transparency in property transactions, as it provides a standardized measure for assessing property values within the region. Buyers and sellers should always refer to the latest guideline values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Jain Colony?

The current guideline value of Jain Colony is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 795 per sq.ft in 2002 to Rs 5,300 per sq.ft in 2024, representing a total increase of 567% over the years.

Which Sub Registrar Office covers Jain Colony?

The Kodambakkam Sub Registrar Office covers Jain Colony, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What are the stamp duty and registration fees for property in Jain Colony?

For a property valued at the current guideline value of Rs 53,00,000, the stamp duty would be Rs 3,71,000 and the registration fee would be Rs 1,06,000, totaling Rs 4,77,000.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring that these costs are based on an official valuation. It provides a standardized measure for assessing property values in the region.