Guideline Value for JAWAHARLAL NEHRU NAGAR

Jawaharlal Nehru Nagar guideline value

The current guideline value of Jawaharlal Nehru Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024. This locality is situated in Okkiyamthuraipakkam village, under the jurisdiction of the Neelankarai SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Jawaharlal Nehru Nagar has changed

Over the years, the guideline value for Jawaharlal Nehru Nagar has seen several revisions. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 1,005 per sq.ft. The value then rose to Rs 1,500 per sq.ft in the 2023 revision, and currently stands at Rs 1,700 per sq.ft from the 2024 revision. The register has no figure for this street for the years 2002 and 2003.

The changes between the revisions indicate a notable increase in the guideline value. From 2007 to 2012, there was a substantial increase of 200%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and the latest revision shows a rise of 13% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 240%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft as of the 2024 revision. The median value for these streets is Rs 3,300 per sq.ft, placing Jawaharlal Nehru Nagar's 2024 figure below this median.

• JAYADEVI 1st STREET: Rs 2,800 per sq.ft (2024)
• Jains Peeble Brook: Rs 2,800 per sq.ft (2024)
• Iyappa Lay Out (Sri): Rs 2,200 per sq.ft (2024)
• Ishwariya Foundations: Rs 2,200 per sq.ft (2024)
• Industrial Estate Road: Rs 6,400 per sq.ft (2024)
• J.K.Avenue: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jawaharlal Nehru Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total cost Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jawaharlal Nehru Nagar?

The Sub Registrar Office that covers Jawaharlal Nehru Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Okkiyamthuraipakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a benchmark to assess the property value for registration purposes, ensuring that the transaction is recorded accurately.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall costs associated with property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Jawaharlal Nehru Nagar?

The current guideline value of Jawaharlal Nehru Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 240% over the years.

What is the land classification for Jawaharlal Nehru Nagar?

Jawaharlal Nehru Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total cost of Rs 1,53,000.

Where is the Sub Registrar Office for Jawaharlal Nehru Nagar located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.