Guideline Value for JAYA NAGAR MASQUE STREET

Jaya Nagar Masque Street guideline value

The current guideline value of Jaya Nagar Masque 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, classified as Residential Class I Type - I.

How the guideline value of Jaya Nagar Masque Street has changed

Over the years, the guideline value of Jaya Nagar Masque Street has seen several revisions. The 2012 revision set the value at Rs 2,750 per sq.ft, which was then reduced to Rs 1,842 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,750 per sq.ft, and the latest revision in 2024 has raised it to Rs 3,030 per sq.ft. The changes between these revisions include a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 value for these streets is Rs 1,930 per sq.ft, placing Jaya Nagar Masque Street's 2024 figure above this median.

• Jaya Nagar Jaya Vinayagar Koil 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 Masque 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 to Rs 2,72,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Jaya Nagar Masque Street?

The Sub Registrar Office covering Jaya Nagar Masque 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 is a crucial factor when buying or selling property in Karambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must ensure that the sale price is at least equal to the guideline value to avoid any legal complications.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the actual sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jaya Nagar Masque Street?

The current guideline value of Jaya Nagar Masque 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 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 of Jaya Nagar Masque Street?

Jaya Nagar Masque Street is classified as Residential Class I Type - I under the Chennai South Joint I SRO.

What are the other streets in Karambakkam with similar guideline values?

Other streets in Karambakkam with a guideline value of Rs 3,030 per sq.ft include Jaya Nagar Jaya Vinayagar Koil Street, Jayanagar Estates, Jaya Nagar Chruch Street, and Jaya Nagar.

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

The stamp duty for properties in Jaya Nagar Masque Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty would be Rs 2,12,100.