Guideline Value for JAIN NAGAR

Jain Nagar guideline value

The current guideline value of Jain Nagar, located in Kosappur village under the Thiruvottiyur SRO, is Rs 1,002 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Jain Nagar has changed

The guideline value for Jain Nagar has seen several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased to Rs 300 per sq.ft in 2012. However, this was followed by a significant decrease of 33% to Rs 201 per sq.ft in 2017. From 2017 to 2023, the value surged by 399%, reaching Rs 1,002 per sq.ft, a figure that remained unchanged in the 2024 revision.

The register has no figure for Jain Nagar in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 902%, reflecting the changes in the area's valuation over the years.

Guideline values in Kosappur

Kosappur village has 25 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft. Jain Nagar's current guideline value of Rs 1,002 per sq.ft is equal to the median value for the village.

• Gnanaguru Nagar: Rs 1,002 per sq.ft (2024)
• Dr.AMBETKAR NAGAR: Rs 1,000 per sq.ft (2024)
• Donbosco Nagar: Rs 1,002 per sq.ft (2024)
• Krishna Nagar/ Ext: Rs 1,002 per sq.ft (2024)
• Coramondal Green City: Rs 1,040 per sq.ft (2024)
• Madha Nagar: Rs 1,002 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 1,002 per sq.ft, the total guideline value amounts to Rs 10,02,000. The stamp duty at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, making the total cost for these fees Rs 90,180. 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 Nagar?

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

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

The guideline value plays a crucial role in the registration process of property transactions in Kosappur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value is considered to ensure that the transaction is registered at a value that reflects the current market conditions. This helps in maintaining transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Jain Nagar?

The current guideline value of Jain Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 1,002 per sq.ft in 2024, marking an overall increase of 902% from 2007 to 2024.

What is the land classification of Jain Nagar?

The land classification for Jain Nagar is Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the Thiruvottiyur Sub Registrar Office?

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

How is stamp duty calculated for properties in Jain 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 guideline value of Rs 10,02,000, the stamp duty would amount to Rs 70,140.