Guideline Value for JASMIN NAGAR

Jasmin Nagar guideline value

The current guideline value of Jasmin Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Korattur village under the Villivakkam SRO and is classified as Residential Class IV Type - I.

How the guideline value of Jasmin Nagar has changed

Over the years, the guideline value for Jasmin Nagar has seen a few revisions. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which is an increase of 8% from the 2023 revision of Rs 1,200 per sq.ft. Prior to that, the guideline value remained unchanged from 2012 to 2023 at Rs 1,200 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2017.

From 2012 to 2024, the guideline value has increased by a total of 8%. The 2024 figure of Rs 1,300 per sq.ft is below the median guideline value of Rs 2,500 per sq.ft for the 617 streets in Korattur under the Villivakkam SRO.

Guideline values in Korattur

In Korattur, the guideline values range from Rs 1,100 to Rs 8,200 per sq.ft in 2024. Jasmin Nagar's guideline value of Rs 1,300 per sq.ft is lower than the median value of Rs 2,500 per sq.ft. Other streets in Korattur include:

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

Stamp duty and registration fee for property in Jasmin Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be 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 further calculations.

Which Sub Registrar Office covers Jasmin Nagar?

The Sub Registrar Office that covers Jasmin Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near 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 is the minimum value set by the government for property transactions, ensuring that the transaction is recorded at a fair value.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jasmin Nagar?

The current guideline value of Jasmin Nagar 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 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, marking an 8% increase. The value remained unchanged at Rs 1,200 per sq.ft from 2012 to 2023.

What is the land classification of Jasmin Nagar?

Jasmin Nagar is classified as Residential Class IV Type - I according to the local land classification regulations.

Where can I find the Sub Registrar Office for Jasmin Nagar?

The Sub Registrar Office for Jasmin Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated in Jasmin Nagar?

Stamp duty in Jasmin Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable, ensuring compliance with property transaction regulations.