Guideline Value for JAYA SHREE ENCLAVE

Jaya Shree Enclave guideline value

The current guideline value of Jaya Shree Enclave is Rs 900 per sq.ft, effective from 1 July 2024. This property is located in Padappai village, under the Padappai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Jaya Shree Enclave has changed

Looking at the revisions over the years, the guideline value for Jaya Shree Enclave has seen significant changes. The 2017 revision recorded a value of Rs 550 per sq.ft, which increased to Rs 821 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the value at Rs 900 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available in the register for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median value for these streets is Rs 830 per sq.ft, placing Jaya Shree Enclave's 2024 figure above that median.

• Jkp Jayadev Avenue Phase - I & Phase - II: Rs 830 per sq.ft (2024)
• Jai Ganapathy Nagar: Rs 830 per sq.ft (2024)
• Illagi Nagar: Rs 1,980 per sq.ft (2024)
• Kamarajar Street: Rs 660 per sq.ft (2024)
• Hayath Nagar: Rs 830 per sq.ft (2024)
• Hasan Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Jaya Shree Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 900 per sq.ft, the total guideline value would be Rs 9,00,000. The stamp duty at 7% would amount to Rs 63,000, and the registration fee at 2% would be Rs 18,000, bringing the total fees together to Rs 81,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Jaya Shree Enclave?

The Sub Registrar Office that covers Jaya Shree Enclave is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

When buying or selling property in Padappai, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions, and it ensures that the appropriate taxes are collected during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall costs involved in the transaction. This value is updated periodically, reflecting changes in the real estate market and local developments.

Frequently asked questions

What is the current guideline value of Jaya Shree Enclave?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 550 per sq.ft to Rs 900 per sq.ft in 2024, which represents a total increase of 64% over the seven-year period.

What is the land classification of Jaya Shree Enclave?

Jaya Shree Enclave is classified as Residential Class II Type - II, which indicates its suitability for residential development.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Jaya Shree Enclave?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 9,00,000, the stamp duty would be Rs 63,000 at a rate of 7%.