Guideline Value for JAMALIA NAGAR

Jamalia Nagar guideline value

The current guideline value of Jamalia Nagar, located in Perambur village under the Purasaivakkam SRO, is Rs 6,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Jamalia Nagar has changed

The guideline value for Jamalia Nagar has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 579 per sq.ft. This increased to Rs 635 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 1,100 per sq.ft, reflecting a significant increase of 73%. The 2012 revision saw a drop to Rs 6,000 per sq.ft, a decrease of 445% from the previous figure. However, in 2017, the value recovered to Rs 4,020 per sq.ft, showing a 49% increase. The most recent revisions include Rs 6,000 per sq.ft in 2023 and the current rate of Rs 6,400 per sq.ft in 2024, which is a 7% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1005%. There are no figures available for revisions in years not listed.

Guideline values in Perambur

In Perambur village, there are a total of 1,114 streets under the Purasaivakkam SRO, with the 2024 guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Jamalia Nagar's 2024 guideline value above this median.

• Jamalia Link Road: Rs 6,400 per sq.ft (2024)
• Jamalia Nagar Main Road & Cross Street: Rs 6,400 per sq.ft (2024)
• Jamal Nagar: Rs 5,400 per sq.ft (2024)
• Janagiraman Garden: Rs 3,800 per sq.ft (2024)
• Jawahar Street: Rs 2,700 per sq.ft (2024)
• Jafferkhan Street: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jamalia Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 6,400 per sq.ft, the total guideline value would be Rs 64,00,000. The stamp duty at 7% would amount to Rs 4,48,000, while the registration fee at 2% would be Rs 1,28,000. Together, the total cost for stamp duty and registration fee would be Rs 5,76,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jamalia Nagar?

The Sub Registrar Office that covers Jamalia Nagar is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

When buying or selling property in Perambur, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately.

The guideline value helps in establishing a fair assessment of property transactions, thereby facilitating a smoother registration process. It is essential for buyers and sellers to be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Jamalia Nagar?

The current guideline value of Jamalia Nagar is Rs 6,400 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 579 per sq.ft in 2002 to Rs 6,400 per sq.ft in 2024, reflecting an overall increase of 1005% over this period.

What is the land classification for Jamalia Nagar?

Jamalia Nagar is classified as Residential Special Type - I, which indicates its designation for residential purposes.

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

The Sub Registrar Office for Jamalia Nagar is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 64,00,000, the stamp duty would be Rs 4,48,000 at a rate of 7%.