Guideline Value for JAMBUGESWARA NAGAR HIGH ROAD

Jambugeswara Nagar High Road guideline value

The current guideline value of Jambugeswara Nagar High Road is Rs 1,300 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 IV Type - I land classification.

How the guideline value of Jambugeswara Nagar High Road has changed

The guideline value for Jambugeswara Nagar High Road has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, it saw a decrease to Rs 804 per sq.ft in 2017. The value then rose significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of the 2024 revision. There are no figures available for the revisions in 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. The jump from 2007 to 2012 was a notable 100% increase. Overall, from 2007 to 2024, the guideline value has increased by 117%.

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 High Road is below this median.

• Jambugeswara Nagar 9th Street: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR (Kovil Land): Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 8th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 7th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 6th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 5th STREET: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Jambugeswara Nagar High Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. 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 High Road?

The Sub Registrar Office that covers Jambugeswara Nagar High Road 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 is a crucial factor when buying or selling property in Korattur. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for the transaction, ensuring that the sale price is in line with government assessments. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Jambugeswara Nagar High Road?

The current guideline value of Jambugeswara Nagar High Road is Rs 1,300 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 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over this period.

What is the land classification of Jambugeswara Nagar High Road?

Jambugeswara Nagar High Road is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for property in Jambugeswara Nagar High Road?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 13,00,000, the total fees would amount to Rs 1,17,000.

Which office handles property registrations for Jambugeswara Nagar High Road?

The Villivakkam Sub Registrar Office handles property registrations for Jambugeswara Nagar High Road, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.