Guideline Value for JAYALAKSHMI NAGAR 1ST STREET

Jayalakshmi Nagar 1st Street guideline value

The current guideline value of Jayalakshmi Nagar 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Jayalakshmi Nagar 1st Street has changed

The guideline value for Jayalakshmi Nagar 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,005 per sq.ft. The value remained at Rs 1,500 per sq.ft until the 2023 revision, which increased it to Rs 1,500 per sq.ft, marking a significant rise of 49% from the previous figure. The current value, effective from 2024, is Rs 1,650 per sq.ft, reflecting a 10% increase from the 2023 revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a 10% increase.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, placing the 2024 figure for Jayalakshmi Nagar 1st Street below that median.

• Jayalakshmi Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Jayalakshmi Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Jayalakshmi Nagar 4th Street: Rs 1,650 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Jayaram Nagar: Rs 1,320 per sq.ft (2024)
• Jayaram Nagar 1st Cross Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Jayalakshmi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jayalakshmi Nagar 1st Street?

The Sub Registrar Office covering Jayalakshmi Nagar 1st Street 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. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Vanagaram. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it can impact the overall cost of the transaction. It is advisable to check the latest guideline value before proceeding with any property transaction to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar 1st Street?

The current guideline value of Jayalakshmi Nagar 1st Street is Rs 1,650 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 2023 to Rs 1,650 per sq.ft in 2024, indicating a 10% increase. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012, showing significant fluctuations over the years.

What are the other streets in Vanagaram with similar guideline values?

Other streets in Vanagaram with a guideline value of Rs 1,650 per sq.ft in 2024 include Jayalakshmi Nagar 2nd Street, Jayalakshmi Nagar 3rd Street, Jayalakshmi Nagar 4th Street, and Jayalakshmi Nagar itself.

What is the registration fee for property in Jayalakshmi Nagar 1st Street?

The registration fee for property in Jayalakshmi Nagar 1st Street is based on the guideline value. For a property valued at Rs 16,50,000, the registration fee would be Rs 33,000 at 2%.

Where can I find the Sub Registrar Office for Jayalakshmi Nagar 1st Street?

The Sub Registrar Office for Jayalakshmi Nagar 1st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.