Guideline Value for JAYA NAGAR MAIN ROAD

Jaya Nagar Main Road guideline value

The current guideline value of Jaya Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Medavakkam 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 Main Road has changed

The guideline value for Jaya Nagar Main Road has seen several revisions over the years. In 2012, the guideline value was set at Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, a rise of 49%. The most recent revision in 2024 saw the guideline value increase to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which matches the current guideline value for Jaya Nagar Main Road.

• Jaya Nagar: Rs 2,200 per sq.ft (2024)
• Jayaprakash Narayanan Street: Rs 1,870 per sq.ft (2024)
• J K Avenue: Rs 2,750 per sq.ft (2024)
• Iyyappa Nagar Extn: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jaya Nagar Main Road

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, while the registration fee at 2% would be Rs 44,000. Together, the total charges would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Jaya Nagar Main Road?

The Sub Registrar Office that covers Jaya Nagar Main Road 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 Medavakkam

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value for calculating stamp duty and registration fees during the transaction process.

When a property is sold, the guideline value serves as a basis for taxation purposes, ensuring that the state collects appropriate revenue from property transactions. It is essential for buyers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Jaya Nagar Main Road?

The current guideline value of Jaya Nagar Main Road 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on Jaya Nagar Main Road?

For a 1,000 sq.ft property, the total guideline value is 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 Sub Registrar Office covers Jaya Nagar Main Road?

The Chennai South Joint I Sub Registrar Office covers Jaya Nagar Main Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

What is the land classification for Jaya Nagar Main Road?

The land classification for Jaya Nagar Main Road is Residential Class I Type - I.