Guideline Value for JAMBUGESWARA NAGAR 6th STREET

JAMBUGESWARA NAGAR 6th STREET guideline value

The current guideline value of JAMBUGESWARA NAGAR 6th STREET is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of JAMBUGESWARA NAGAR 6th STREET has changed

The guideline value for JAMBUGESWARA NAGAR 6th STREET has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 150% increase. However, this value then decreased to Rs 1,005 per sq.ft in 2017, reflecting a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, representing a 59% increase from the 2017 figure. The register has no figure for this street in 2023, 2003, and 2002.

Overall, from 2007 to 2024, the guideline value has increased by 167%. This change indicates a significant fluctuation in the property value over the years, with the current value being the highest recorded for this street.

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. The median guideline value for these streets is Rs 2,500 per sq.ft, positioning JAMBUGESWARA NAGAR 6th STREET below this median at Rs 1,600 per sq.ft.

• JAMBUGESWARA NAGAR 5th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 7th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 4th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 8th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 3rd STREET: Rs 1,600 per sq.ft (2024)
• Jambugeswara Nagar 9th Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in JAMBUGESWARA NAGAR 6th STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to 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.

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

Which Sub Registrar Office covers JAMBUGESWARA NAGAR 6th STREET?

The Sub Registrar Office that covers JAMBUGESWARA NAGAR 6th STREET is 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 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 of property transactions in Korattur. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property transactions. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of JAMBUGESWARA NAGAR 6th STREET?

The current guideline value of JAMBUGESWARA NAGAR 6th 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 is the land classification for JAMBUGESWARA NAGAR 6th STREET?

The land classification for JAMBUGESWARA NAGAR 6th STREET is Residential Class III Type - III.

Which Sub Registrar Office covers this street?

The Villivakkam Sub Registrar Office covers JAMBUGESWARA NAGAR 6th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.