Guideline Value for JAIN NAGAR

Jain Nagar guideline value

The current guideline value of Jain Nagar, located in Naalur village under the Ponneri SRO, is Rs 500 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Jain Nagar has changed

In the 2012 revision, the guideline value was set at Rs 400 per sq.ft. This figure changed to Rs 335 per sq.ft in the 2017 revision, reflecting a decrease of 16%. However, from 2017 to the 2023 revision, the value increased significantly to Rs 500 per sq.ft, marking a 49% rise. The 2023 revision also maintained the same rate of Rs 500 per sq.ft in the subsequent 2024 revision, indicating no change.

There are no figures available for the years 2002, 2003, and 2007 in the register for Jain Nagar. Overall, from 2012 to 2024, the guideline value has increased by 25%.

Guideline values in Naalur

In Naalur, there are 23 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 600 per sq.ft, with a median value of Rs 400 per sq.ft. Jain Nagar's 2024 figure of Rs 500 per sq.ft is above this median.

• Indhuja Nagar: Rs 500 per sq.ft (2024)
• Green Peace: Rs 400 per sq.ft (2024)
• Kesavapuram: Rs 400 per sq.ft (2024)
• Bharathi Nagar: Rs 400 per sq.ft (2024)
• M G M Anandha Nagar: Rs 400 per sq.ft (2024)
• Minjur Modern City: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Jain Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the 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 Jain Nagar?

The Sub Registrar Office that covers Jain Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, in the Chennai registration zone. You can find your SRO for more details.

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

The guideline value serves as a benchmark for property transactions in Naalur. When buying or selling property, this value is used to calculate the stamp duty and registration fees, ensuring that the transaction is registered correctly with the authorities.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of property transactions. Proper understanding of these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Jain Nagar?

The current guideline value of Jain Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 400 per sq.ft to Rs 500 per sq.ft in 2024, reflecting an overall increase of 25% over this period.

What are the other streets in Naalur with their guideline values?

Other streets in Naalur include Indhuja Nagar at Rs 500 per sq.ft, and several streets such as Green Peace, Kesavapuram, Bharathi Nagar, M G M Anandha Nagar, and Minjur Modern City all at Rs 400 per sq.ft in 2024.

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

The stamp duty for properties in Jain Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000.

Where is the Sub Registrar Office for Jain Nagar located?

The Sub Registrar Office for Jain Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles all registrations for properties in the area.