Guideline Value for JAMBUGESWARA NAGAR 3rd STREET

JAMBUGESWARA NAGAR 3rd STREET guideline value

The current guideline value of JAMBUGESWARA NAGAR 3rd 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 falls under the Residential Class III Type - III land classification.

How the guideline value of JAMBUGESWARA NAGAR 3rd STREET has changed

The guideline value for JAMBUGESWARA NAGAR 3rd STREET has seen several revisions over the years. The earliest available figure is from the 2007 revision, which was Rs 600 per sq.ft. This value increased significantly to Rs 1,500 per sq.ft in the 2012 revision, marking a 150% rise. However, the value then decreased to Rs 1,005 per sq.ft in the 2017 revision, reflecting a 33% drop. The value rebounded to Rs 1,500 per sq.ft in the 2023 revision, and in the latest 2024 revision, it has reached Rs 1,600 per sq.ft, showing a 7% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 167%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, indicating that JAMBUGESWARA NAGAR 3rd STREET's 2024 figure is below that median.

• JAMBUGESWARA NAGAR 2nd STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 4th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 1st. STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 5th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 6th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 7th STREET: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in JAMBUGESWARA NAGAR 3rd STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total 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, bringing the total amount for these fees to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers JAMBUGESWARA NAGAR 3rd STREET?

The JAMBUGESWARA NAGAR 3rd STREET is covered by 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 more details.

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

The guideline value is crucial in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is officially recorded by the authorities.

It is essential for buyers and sellers to be aware of the guideline value, as it can influence the overall costs associated with property transactions. Accurate knowledge of these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of JAMBUGESWARA NAGAR 3rd STREET?

The current guideline value of JAMBUGESWARA NAGAR 3rd 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, reflecting an overall increase of 167% over the years.

What are the stamp duty and registration fees for properties 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 JAMBUGESWARA NAGAR 3rd STREET?

The Villivakkam Sub Registrar Office covers JAMBUGESWARA NAGAR 3rd STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

Where can I find more information about other streets in Korattur?

Information about other streets in Korattur, including their guideline values, can be found on the respective links provided for each street.