Guideline Value for JAIN NAGAR

Jain Nagar guideline value

The current guideline value of Jain Nagar, located in Periyakuppam village under the Tiruvallur Joint 1 SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Jain Nagar has changed

The guideline value for Jain Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision further raised it to Rs 1,650 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Between the revisions, significant changes were observed. From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value increased by 10%.

Guideline values in Periyakuppam

In Periyakuppam village, there are 105 streets under the Tiruvallur Joint 1 SRO carrying a 2024 guideline value ranging from Rs 550 to Rs 3,300 per sq.ft, with a median value of Rs 1,100 per sq.ft. Jain Nagar's 2024 figure is above this median.

• Jagan Nathan Nagar: Rs 879 per sq.ft (2024)
• Jansie Rani Street: Rs 1,100 per sq.ft (2024)
• Jagageevan Ram Street: Rs 2,200 per sq.ft (2024)
• Ingarsal Street: Rs 1,100 per sq.ft (2024)
• Jayaprakash Street: Rs 1,320 per sq.ft (2024)
• Indira Nagar: Rs 879 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that 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 Jain Nagar?

The Sub Registrar Office that covers Jain 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 Periyakuppam

The guideline value is a crucial factor in the registration process when buying or selling property in Periyakuppam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jain Nagar?

The current guideline value of Jain Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Jain Nagar?

Jain Nagar is classified as Residential Class I Type - I.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,650 per sq.ft, the total cost would be Rs 1,48,500.

Which Sub Registrar Office covers Jain Nagar?

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