Guideline Value for JAYALAKSHMI NAGAR 4TH STREET

Jayalakshmi Nagar 4th Street guideline value

The current guideline value of Jayalakshmi Nagar 4th Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Jayalakshmi Nagar 4th Street has changed

The guideline value for Jayalakshmi Nagar 4th Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, representing a 49% rise. The latest revision in 2024 set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

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 increased by 10%.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,660 per sq.ft, placing the guideline value of Jayalakshmi Nagar 4th Street below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that 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 further assistance.

Which Sub Registrar Office covers Jayalakshmi Nagar 4th Street?

The Sub Registrar Office that covers Jayalakshmi Nagar 4th 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vanagaram. It serves as a reference for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

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 and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar 4th Street?

The current guideline value of Jayalakshmi Nagar 4th 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 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Jayalakshmi Nagar 4th Street?

The land classification for Jayalakshmi Nagar 4th Street is Residential Class IV Type - I.

Where can I find the registration office for Jayalakshmi Nagar 4th Street?

The registration office for Jayalakshmi Nagar 4th 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.

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

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at a rate of 7%.