Guideline Value for JAYA NAGAR EXTN M.G.R. STREET

Jaya Nagar Extn M.G.R. Street guideline value

The current guideline value of Jaya Nagar Extn M.G.R. Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Mannivakkam village, under the Gooduvancheri SRO, and is classified as Mixed Special Type - I.

How the guideline value of Jaya Nagar Extn M.G.R. Street has changed

Over the years, the guideline value of Jaya Nagar Extn M.G.R. Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and finally rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, the changes between revisions are notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mannivakkam

Mannivakkam has a total of 118 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value in this area is Rs 1,215 per sq.ft, placing Jaya Nagar Extn M.G.R. Street's 2024 figure above this median.

• Jaya Nagar Extension M.G.R. Street: Rs 2,200 per sq.ft (2024)
• Jayaprakash Nagar: Rs 1,320 per sq.ft (2024)
• Jayaram Avenue: Rs 990 per sq.ft (2024)
• Jeyam Avenue: Rs 990 per sq.ft (2024)
• Jothiram Avenue: Rs 990 per sq.ft (2024)
• Indrani Ramachandran Avenue: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Jaya Nagar Extn M.G.R. Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jaya Nagar Extn M.G.R. Street?

The Jaya Nagar Extn M.G.R. Street is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Mannivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the registration office uses the guideline value to calculate the applicable charges. Buyers and sellers must be aware of these values to ensure compliance with the legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Jaya Nagar Extn M.G.R. Street?

The current guideline value of Jaya Nagar Extn M.G.R. Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with notable increases from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024. The value has fluctuated, with a decrease noted between 2012 and 2017.

What is the median guideline value in Mannivakkam?

The median guideline value in Mannivakkam is Rs 1,215 per sq.ft, with Jaya Nagar Extn M.G.R. Street's value being above this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Jaya Nagar Extn M.G.R. Street?

The Gooduvancheri Sub Registrar Office handles property registrations for Jaya Nagar Extn M.G.R. Street, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.