Guideline Value for JAYALAKSHMI NAGAR PRINCE GARDEN

Jayalakshmi Nagar Prince Garden guideline value

The current guideline value for Jayalakshmi Nagar Prince Garden is Rs 300 per sq.ft, effective from 1 July 2024. This property is located in Achsaravakkam village, under the Thiruporur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Jayalakshmi Nagar Prince Garden has changed

Over the years, the guideline value for Jayalakshmi Nagar Prince Garden has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 201 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 300 per sq.ft. The 2024 revision also maintains this figure, reflecting no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Therefore, the revisions we can reference are from 2012, 2017, 2023, and 2024, with the overall change from 2012 to 2024 being 0%.

Guideline values in Achsaravakkam

Achsaravakkam has four streets under the Thiruporur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 650 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Jayalakshmi Nagar Prince Garden's 2024 value above this median.

• S.P. Savundarapandian Nagar Phase-II: Rs 200 per sq.ft (2024)
• Sri Sai Ram Nagar: Rs 200 per sq.ft (2024)
• Velmurugan Nagar: Rs 650 per sq.ft (2024)

Stamp duty and registration fee for property in Jayalakshmi Nagar Prince Garden

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty, charged at 7%, would be Rs 21,000, while the registration fee at 2% would be Rs 6,000. Together, these fees total Rs 27,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Jayalakshmi Nagar Prince Garden?

The Sub Registrar Office covering Jayalakshmi Nagar Prince Garden is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Achsaravakkam. It serves as a reference point for determining the stamp duty and registration fees payable during the transaction. Buyers and sellers must be aware that the guideline value may influence the overall cost of the property transfer.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar Prince Garden?

The current guideline value of Jayalakshmi Nagar Prince Garden is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then back to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification for this area?

The land classification for Jayalakshmi Nagar Prince Garden is Residential Special Type - I.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 300 per sq.ft incurs a stamp duty of Rs 21,000.

Where is the Sub Registrar Office located for this property?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.