Guideline Value for JAMBUGESWARA NAGAR 5th STREET

JAMBUGESWARA NAGAR 5th STREET guideline value

The current guideline value of JAMBUGESWARA NAGAR 5th 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 5th STREET has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012, marking a 150% increase. However, it then decreased to Rs 1,005 per sq.ft in 2017, representing a 33% drop. The most recent revision in 2024 shows a substantial increase to Rs 1,600 per sq.ft, which is a 59% rise from the 2017 figure.

It is important to note that there are no registered figures for the years 2023, 2003, and 2002 for this street. 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 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 for JAMBUGESWARA NAGAR 5th STREET is below this median.

• JAMBUGESWARA NAGAR 4th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 6th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 3rd STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 7th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 2nd STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 8th STREET: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in JAMBUGESWARA NAGAR 5th 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 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 JAMBUGESWARA NAGAR 5th STREET?

The Sub Registrar Office that covers JAMBUGESWARA NAGAR 5th 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the registration office will use the guideline value to calculate the applicable fees. Buyers and sellers should be aware that the guideline value can differ significantly from the actual sale price, and the higher amount will be considered for duty calculations.

Frequently asked questions

What is the current guideline value of JAMBUGESWARA NAGAR 5th STREET?

The current guideline value of JAMBUGESWARA NAGAR 5th 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 a 167% increase overall.

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 5th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for JAMBUGESWARA NAGAR 5th STREET?

The land classification for JAMBUGESWARA NAGAR 5th STREET is Residential Class III Type - III.