Guideline Value for JAMBUGESWARA NAGAR 7th STREET

JAMBUGESWARA NAGAR 7th STREET guideline value

The current guideline value of JAMBUGESWARA NAGAR 7th 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 7th STREET has changed

The guideline value for JAMBUGESWARA NAGAR 7th STREET has seen several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012. However, in the 2017 revision, it dropped to Rs 1,005 per sq.ft. The most recent revision in 2024 has set the value at Rs 1,600 per sq.ft, marking a 59% increase from the 2017 figure.

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

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 7th STREET is below this median.

• JAMBUGESWARA NAGAR 6th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 8th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 5th STREET: Rs 1,600 per sq.ft (2024)
• Jambugeswara Nagar 9th Street: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 4th STREET: Rs 1,600 per sq.ft (2024)
• Jambugeswara Nagar High Road: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in JAMBUGESWARA NAGAR 7th 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, making the total cost for these fees Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers JAMBUGESWARA NAGAR 7th STREET?

The Sub Registrar Office that covers JAMBUGESWARA NAGAR 7th 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 minimum value at which a property can be registered, ensuring that the property is not undervalued during the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures transparency in property transactions and helps in maintaining accurate records for the government.

Frequently asked questions

What is the current guideline value of JAMBUGESWARA NAGAR 7th STREET?

The current guideline value of JAMBUGESWARA NAGAR 7th 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 this period.

What is the land classification of JAMBUGESWARA NAGAR 7th STREET?

JAMBUGESWARA NAGAR 7th STREET is classified as Residential Class III Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for JAMBUGESWARA NAGAR 7th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in this area?

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 a rate of 7%.