Guideline Value for JAYA NAGAR

Jaya Nagar guideline value

The current guideline value of Jaya Nagar, located in Korattur village under the Villivakkam SRO, is Rs 2,900 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Jaya Nagar has changed

In the 2012 revision, the guideline value was Rs 2,700 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 2,700 per sq.ft. 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 the 2012 revision to the 2024 revision, the guideline value has increased by 7%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 for this street in the register.

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 for these streets is Rs 2,500 per sq.ft, and Jaya Nagar's 2024 figure is above this median.

• Jaya Nagar Annexe: Rs 2,900 per sq.ft (2024)
• Jaya Nagar Extension: 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)
• 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, making the total fees Rs 2,61,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jaya Nagar?

The Sub Registrar Office that covers Jaya Nagar is 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 crucial factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jaya Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2012 and 2023 to Rs 2,900 per sq.ft in 2024, reflecting a 7% increase. There are no figures available for the years 2002, 2003, 2007, and 2017 for this street.

What is the land classification for Jaya Nagar?

Jaya Nagar is classified as Residential Class II Type - II. This classification is important for understanding the type of development permitted in the area.

Where is the Sub Registrar Office for Jaya Nagar located?

The Sub Registrar Office for Jaya Nagar is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Jaya Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,61,000.