Guideline Value

Corporate

Guideline Value for JAMBUGESWARA NAGAR 1st. STREET

₹1600/sq.ft.

The guideline value for Jambugeswara Nagar 1st. Street in Korattur village (Villivakkam SRO, Chennai zone) is Rs 1600 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 7% change. The land classification is Residential Class Iii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Korattur

Village

Villivakkam

SRO

Residential Class III Type - III
History
Period Guideline Value
From 1-7-2024 ₹1600 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹600 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 ( Near By Nolambur Eb Office )
044-29561092
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Jambugeswara Nagar 1st. Street

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JAMBUGESWARA NAGAR 1st. STREET guideline value

The current guideline value of JAMBUGESWARA NAGAR 1st. STREET is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class III Type - III.

How the guideline value of JAMBUGESWARA NAGAR 1st. STREET has changed

The guideline value for JAMBUGESWARA NAGAR 1st. STREET has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012. However, it then dropped to Rs 1,005 per sq.ft in 2017 before rising significantly to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 1,600 per sq.ft.

Between the revisions, the changes were notable. From 2007 to 2012, there was a 150% increase, followed by a 33% decrease from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and the latest revision shows a 7% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 167%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value for JAMBUGESWARA NAGAR 1st. STREET is below this median.

Stamp duty and registration fee for property in JAMBUGESWARA NAGAR 1st. STREET

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers JAMBUGESWARA NAGAR 1st. STREET?

The Sub Registrar Office that covers JAMBUGESWARA NAGAR 1st. STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Korattur. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the correct amounts are paid to the government.

When a property is sold, the guideline value serves as a reference point for the sale price. The final duty is calculated based on the higher of the guideline value or the actual sale price, which helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of JAMBUGESWARA NAGAR 1st. STREET?

The current guideline value of JAMBUGESWARA NAGAR 1st. STREET is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 167%.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office covers this street?

The Villivakkam Sub Registrar Office covers JAMBUGESWARA NAGAR 1st. STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of JAMBUGESWARA NAGAR 1st. STREET?

The land classification for JAMBUGESWARA NAGAR 1st. STREET is Residential Class III Type - III.