Guideline Value for JAMBUGESWARA NAGAR 8th STREET

JAMBUGESWARA NAGAR 8th STREET guideline value

The current guideline value of JAMBUGESWARA NAGAR 8th 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 8th STREET has changed

The guideline value for JAMBUGESWARA NAGAR 8th STREET has undergone 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, there was a decrease to Rs 1,005 per sq.ft in 2017. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, reflecting a significant increase of 59% 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 the register has no figures 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 for JAMBUGESWARA NAGAR 8th STREET is below this median.

• JAMBUGESWARA NAGAR 7th STREET: Rs 1,600 per sq.ft (2024)
• Jambugeswara Nagar 9th Street: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 6th STREET: Rs 1,600 per sq.ft (2024)
• Jambugeswara Nagar High Road: Rs 1,300 per sq.ft (2024)
• JAMBUGESWARA NAGAR 5th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR (Kovil Land): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in JAMBUGESWARA NAGAR 8th 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 is charged at 7%, which totals Rs 1,12,000, and the registration fee is 2%, amounting to Rs 32,000. Therefore, the total cost for these fees would be 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 our stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers JAMBUGESWARA NAGAR 8th STREET?

The Sub Registrar Office that covers JAMBUGESWARA NAGAR 8th 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 further assistance.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Korattur, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for completing the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the property transaction. Understanding the guideline value helps ensure compliance with registration requirements and facilitates a smoother buying or selling process.

Frequently asked questions

What is the current guideline value of JAMBUGESWARA NAGAR 8th STREET?

The current guideline value of JAMBUGESWARA NAGAR 8th 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. There were fluctuations in between, including a decrease to Rs 1,005 per sq.ft in 2017.

What is the land classification for JAMBUGESWARA NAGAR 8th STREET?

The land classification for JAMBUGESWARA NAGAR 8th STREET is Residential Class III Type - III, indicating its intended use for residential purposes.

Which office handles registrations for this street?

The Villivakkam Sub Registrar Office handles registrations for JAMBUGESWARA NAGAR 8th STREET. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 1,44,000.