Guideline Value for JAYACHANDRAN NAGAR

Jayachandran Nagar guideline value

The current guideline value of Jayachandran Nagar in Jelandianpettai village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of Jayachandran Nagar has changed

The guideline value for Jayachandran Nagar has undergone several revisions over the years. The earliest recorded value was Rs 1,500 per sq.ft in 2007, which saw a significant increase to Rs 3,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 2,010 per sq.ft in 2017. The value then rose sharply to Rs 3,000 per sq.ft in 2023, and most recently, it has increased by 10% to Rs 3,300 per sq.ft in the 2024 revision.

To summarize the changes: from 2007 to 2012, the value increased by 100%, then decreased by 33% from 2012 to 2017. Following that, there was a substantial increase of 49% from 2017 to 2023, culminating in a 10% rise from 2023 to 2024. Overall, the guideline value has increased by 120% from 2007 to 2024.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Jayachandran Nagar's 2024 figure above this median.

• Jayachandran Nagar 10th Street: Rs 3,300 per sq.ft (2024)
• Jayachandran Nagar 11th Street: Rs 3,300 per sq.ft (2024)
• Jayachandran Nagar 12th Street: Rs 3,300 per sq.ft (2024)
• Jayachandran Nagar 13rd Street: Rs 3,300 per sq.ft (2024)
• Jayachandran Nagar 1st Main Road: Rs 3,300 per sq.ft (2024)
• Jayachandran Nagar 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jayachandran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayachandran Nagar?

The Sub Registrar Office that covers Jayachandran Nagar 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 Jelandianpettai

The guideline value is a crucial factor in the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair and standardized price.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price, which can impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Jayachandran Nagar?

The current guideline value of Jayachandran Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 1,500 per sq.ft in 2007, increasing to Rs 3,300 per sq.ft in 2024, with various fluctuations in between.

What are the other streets in Jelandianpettai with the same guideline value?

Other streets in Jelandianpettai, such as Jayachandran Nagar 10th Street, 11th Street, 12th Street, 13rd Street, 1st Main Road, and 1st Street, all have a guideline value of Rs 3,300 per sq.ft as of 2024.

Where can I find the Sub Registrar Office for Jayachandran Nagar?

The Sub Registrar Office for Jayachandran Nagar 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 stamp duty calculated for properties in Jayachandran Nagar?

Stamp duty for properties in Jayachandran Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.