Guideline Value for JAYALAKSHMI NAGAR 1 TO 3 STREETS

Jayalakshmi Nagar 1 To 3 Streets guideline value

The current guideline value for Jayalakshmi Nagar 1 To 3 Streets in Zaminpallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Jayalakshmi Nagar 1 To 3 Streets has changed

The guideline value for Jayalakshmi Nagar 1 To 3 Streets has seen several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in 2024. The register does not have figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 10% in the guideline value.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for Jayalakshmi Nagar 1 To 3 Streets.

• Jayalakshmi Nagar: Rs 3,300 per sq.ft (2024)
• Jayalakshmi Street: Rs 3,300 per sq.ft (2024)
• Jayalakshmi Avenue: Rs 3,300 per sq.ft (2024)
• Javvadhu Hussain Street: Rs 2,160 per sq.ft (2024)
• Jagath Avenue 1 To 4 Streets: Rs 2,750 per sq.ft (2024)
• Iyswarya Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Jayalakshmi Nagar 1 To 3 Streets

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, while the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jayalakshmi Nagar 1 To 3 Streets?

The Sub Registrar Office that covers Jayalakshmi Nagar 1 To 3 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately and fairly.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value for Jayalakshmi Nagar 1 To 3 Streets?

The current guideline value for Jayalakshmi Nagar 1 To 3 Streets 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 changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Jayalakshmi Nagar 1 To 3 Streets?

The land classification for Jayalakshmi Nagar 1 To 3 Streets is Residential Class I Type - II.

Where can I find the registration office for this area?

The registration office for Jayalakshmi Nagar 1 To 3 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.