Guideline Value for JAYA NAGAR JAYA VINAYAGAR KOIL STREET

Jaya Nagar Jaya Vinayagar Koil Street guideline value

The current guideline value of Jaya Nagar Jaya Vinayagar Koil Street is Rs 3,030 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Jaya Nagar Jaya Vinayagar Koil Street has changed

The guideline value for Jaya Nagar Jaya Vinayagar Koil Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,750 per sq.ft. This figure remained unchanged in the 2012 revision. However, in 2017, it decreased to Rs 1,842 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 2,750 per sq.ft in the 2023 revision, and further rose to Rs 3,030 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The changes between the revisions are notable, with a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 1,930 per sq.ft, positioning Jaya Nagar Jaya Vinayagar Koil Street above this median.

• Jaya Nagar Masque Street: Rs 3,030 per sq.ft (2024)
• Jayanagar Estates: Rs 3,030 per sq.ft (2024)
• Jaya Nagar Chruch Street: Rs 3,030 per sq.ft (2024)
• Jaya Nagar: Rs 3,030 per sq.ft (2024)
• Jayavinayagar Koil Street: Rs 2,480 per sq.ft (2024)
• Jain Koil Street: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Jaya Nagar Jaya Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,030 per sq.ft, the total guideline value amounts to Rs 30,30,000. The stamp duty at 7% would be Rs 2,12,100, and the registration fee at 2% would be Rs 60,600, bringing the total cost for these fees to Rs 2,72,700. 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 Jaya Vinayagar Koil Street?

The Sub Registrar Office that covers Jaya Nagar Jaya Vinayagar Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Karambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price of the property.

When a property is registered, the guideline value ensures that the government receives the appropriate revenue through taxes. Therefore, it is essential for both buyers and sellers to understand the current guideline value as it directly impacts the financial aspects of the property transaction.

Frequently asked questions

What is the current guideline value of Jaya Nagar Jaya Vinayagar Koil Street?

The current guideline value of Jaya Nagar Jaya Vinayagar Koil Street is Rs 3,030 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,750 per sq.ft in 2012 to Rs 1,842 per sq.ft in 2017, then increased to Rs 2,750 per sq.ft in 2023, and finally to Rs 3,030 per sq.ft in 2024.

What is the land classification for Jaya Nagar Jaya Vinayagar Koil Street?

The land classification for Jaya Nagar Jaya Vinayagar Koil Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Jaya Nagar Jaya Vinayagar Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated at 7% of the higher of the guideline value or the sale price of the property. Additionally, a registration fee of 2% is applicable.