Guideline Value for JAMBUGESWARA NAGAR 4th STREET

JAMBUGESWARA NAGAR 4th STREET guideline value

The current guideline value of JAMBUGESWARA NAGAR 4th 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 4th STREET has changed

The guideline value for JAMBUGESWARA NAGAR 4th STREET has undergone several revisions over the years. The earliest figure recorded was in 2007, with a value of Rs 600 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 150% rise. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, which is an increase of 59% from the 2017 figure.

It is important to note that the register has no figures for the years 2023, 2003, and 2002 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 167%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry 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 of JAMBUGESWARA NAGAR 4th STREET is below this median.

• JAMBUGESWARA NAGAR 3rd STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 5th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 2nd STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 6th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 1st. 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 4th 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 is calculated at 7%, which equals Rs 1,12,000, while the registration fee at 2% totals Rs 32,000. Together, the total cost for these fees is Rs 1,44,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers JAMBUGESWARA NAGAR 4th STREET?

The JAMBUGESWARA NAGAR 4th STREET falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 a crucial factor during property transactions in Korattur as it determines the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to accurately calculate the associated costs.

When a property is sold, the guideline value is used to ascertain the minimum price at which the property can be registered. This ensures that the transaction is documented at a value that reflects the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of JAMBUGESWARA NAGAR 4th STREET?

The current guideline value of JAMBUGESWARA NAGAR 4th 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 seen several changes, starting from Rs 600 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, which reflects an overall increase of 167% since 2007.

What are the stamp duty and registration fees for this street?

For a property of 1,000 sq.ft at Rs 1,600 per sq.ft, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles registrations for JAMBUGESWARA NAGAR 4th STREET?

The Villivakkam Sub Registrar Office handles registrations for JAMBUGESWARA NAGAR 4th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for this street?

The land classification for JAMBUGESWARA NAGAR 4th STREET is Residential Class III Type - III.