Guideline Value for JAYA NAGAR EXTENSION

Jaya Nagar Extension guideline value

The current guideline value of Jaya Nagar Extension is Rs 2,900 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 II Type - II.

How the guideline value of Jaya Nagar Extension has changed

In the 2012 revision, the guideline value was Rs 2,700 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,900 per sq.ft, marking a 7% increase from the previous year. Overall, from 2012 to 2024, there has been a 7% increase in the guideline value.

The register has no figures for the years 2002, 2003, 2007, and 2017 for this street. Therefore, the only relevant revisions for Jaya Nagar Extension are from 2012, 2023, and 2024.

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. The median value is Rs 2,500 per sq.ft, placing Jaya Nagar Extension's 2024 figure above that median.

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

Stamp duty and registration fee for property in Jaya Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jaya Nagar Extension?

The Jaya Nagar Extension falls under 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 more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Korattur. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees.

When a property is sold, the sale price must be equal to or greater than the guideline value. If the sale price is lower than the guideline value, the higher value will be used for calculating the stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Jaya Nagar Extension?

The current guideline value of Jaya Nagar Extension is Rs 2,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024, marking a 7% increase.

What is the land classification for Jaya Nagar Extension?

Jaya Nagar Extension is classified as Residential Class II Type - II.

Which office handles registrations for Jaya Nagar Extension?

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

How is the stamp duty calculated for properties in Jaya Nagar Extension?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,03,000.