Guideline Value for JAYALAKSHMI NAGAR

Jayalakshmi Nagar guideline value

The current guideline value of Jayalakshmi Nagar is Rs 4,600 per sq.ft, effective from 1 July 2024. This area is located in Puliyur village under the Kodambakkam SRO and is classified as Residential Class IV Type - I.

How the guideline value of Jayalakshmi Nagar has changed

The guideline value for Jayalakshmi Nagar has seen significant changes over the years. In 2002, the value was Rs 637 per sq.ft, which increased to Rs 700 per sq.ft in 2003, marking a 10% rise. By 2007, the value had jumped to Rs 1,050 per sq.ft, reflecting a 50% increase from the previous revision. The 2012 revision saw the value remain at Rs 4,300 per sq.ft, and this figure was unchanged until the 2023 revision, where it remained at Rs 4,300 per sq.ft.

In 2024, the guideline value increased to Rs 4,600 per sq.ft, representing a 7% rise from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 622%. The register has no figure for the year 2017 for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Jayalakshmi Nagar's 2024 figure below that median.

• Jayabharatham Street: Rs 6,300 per sq.ft (2024)
• Jayammal Street: Rs 5,000 per sq.ft (2024)
• Jawaharlal Nehru Salai (Inner Ring Road): Rs 14,300 per sq.ft (2024)
• Jayaprakash Street: Rs 5,800 per sq.ft (2024)
• Janakiram Street: Rs 7,100 per sq.ft (2024)
• Janaki Ammal Street: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jayalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,600 per sq.ft, the total guideline value amounts to Rs 46,00,000. The stamp duty at 7% would be Rs 3,22,000, and the registration fee at 2% would be Rs 92,000, bringing the total to Rs 4,14,000. 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?

The Sub Registrar Office that covers Jayalakshmi Nagar is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar?

The current guideline value of Jayalakshmi Nagar is Rs 4,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 637 per sq.ft in 2002 to Rs 4,600 per sq.ft in 2024, marking an overall increase of 622% over the years.

What is the registration office for Jayalakshmi Nagar?

The registration office for Jayalakshmi Nagar is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What are the stamp duty rates for properties in Jayalakshmi Nagar?

The stamp duty for properties in Jayalakshmi Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Are there other streets in Puliyur with different guideline values?

Yes, there are several other streets in Puliyur with varying guideline values, ranging from Rs 3,300 to Rs 14,300 per sq.ft, with the median value being Rs 5,800 per sq.ft.