Guideline Value for JAYALAKSHMI GARDEN

Jayalakshmi Garden guideline value

The current guideline value of Jayalakshmi Garden in Chemmancheri village, under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Jayalakshmi Garden has changed

The guideline value for Jayalakshmi Garden has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then decreased to Rs 1,005 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has raised it further to Rs 1,700 per sq.ft.

In terms of percentage changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. The increase from 2023 to 2024 is noted at 13%. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value is Rs 1,700 per sq.ft, which is equal to the current guideline value of Jayalakshmi Garden.

• Jawahar Nagar: Rs 1,100 per sq.ft (2024)
• Jappiar College: Rs 3,300 per sq.ft (2024)
• Jansen Srikrithi: Rs 3,300 per sq.ft (2024)
• Jayanthi Garden: Rs 1,100 per sq.ft (2024)
• Janani's Shrinilayalam: Rs 4,100 per sq.ft (2024)
• Jayanthi / Kodanda Pani Garden: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Jayalakshmi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty, charged at 7%, would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Jayalakshmi Garden?

The Sub Registrar Office that covers Jayalakshmi Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chemmancheri. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of Jayalakshmi Garden?

The current guideline value of Jayalakshmi Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What are the stamp duty and registration fees for Jayalakshmi Garden?

For a 1,000 sq.ft plot, the total guideline value is Rs 17,00,000. The stamp duty is Rs 1,19,000, and the registration fee is Rs 34,000, totaling Rs 1,53,000.

Which office handles registrations for Jayalakshmi Garden?

The Neelankarai Sub Registrar Office handles registrations for Jayalakshmi Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the significance of the guideline value?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the fees are calculated based on the higher of the guideline value or the sale price.