Guideline Value for JAYA NAGAR (KALLIKUPPAM)

Jaya Nagar (Kallikuppam) guideline value

The current guideline value of Jaya Nagar (Kallikuppam) 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 Jaya Nagar (Kallikuppam) has changed

In the 2007 revision, the guideline value was Rs 375 per sq.ft. This figure saw a significant increase to Rs 1,200 per sq.ft in both the 2012 and 2023 revisions, indicating a remarkable growth of 220% from 2007 to 2012. However, there was no change in the value from 2012 to 2023.

The most recent revision in 2024 has increased the guideline value to Rs 1,300 per sq.ft, representing an 8% increase from the 2023 figure. Overall, from 2007 to 2024, the guideline value has increased by 247%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median of Rs 2,500 per sq.ft. The guideline value for Jaya Nagar (Kallikuppam) is below this median.

• JAYA NAGAR (Madanakuppam): Rs 1,600 per sq.ft (2024)
• Jaya Nagar Extension: Rs 2,900 per sq.ft (2024)
• Jaya Nagar Annexe: Rs 2,900 per sq.ft (2024)
• Jayanthi Nagar: Rs 1,300 per sq.ft (2024)
• Jaya Nagar: Rs 2,900 per sq.ft (2024)
• Jasmin Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jaya Nagar (Kallikuppam)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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, totaling 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 our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Jaya Nagar (Kallikuppam)?

The Sub Registrar Office that covers Jaya Nagar (Kallikuppam) 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 of property transactions in Korattur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that both parties are aware of the official valuation of the property.

It is essential for buyers and sellers to understand that the guideline value may differ from the sale price. The registration fees and stamp duty are calculated based on the higher of the two amounts, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Jaya Nagar (Kallikuppam)?

The current guideline value of Jaya Nagar (Kallikuppam) 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 significantly from Rs 375 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 247% over the years.

What is the registration office for Jaya Nagar (Kallikuppam)?

The registration office for Jaya Nagar (Kallikuppam) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated in Jaya Nagar (Kallikuppam)?

Stamp duty in Jaya Nagar (Kallikuppam) is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

What are the other streets in Korattur with their guideline values?

Other streets in Korattur have varying guideline values, with rates ranging from Rs 1,100 to Rs 8,200 per sq.ft. Some notable streets include JAYA NAGAR (Madanakuppam) at Rs 1,600 per sq.ft and Jaya Nagar Extension at Rs 2,900 per sq.ft.