Guideline Value for JAYALAKSHMI NAGAR

Jayalakshmi Nagar guideline value

The current guideline value of Jayalakshmi Nagar, located in Malayambakkam village under the Kunrathur SRO, is Rs 800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - IV.

How the guideline value of Jayalakshmi Nagar has changed

In the 2017 revision, the guideline value for Jayalakshmi Nagar was Rs 737 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 800 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, 2007, 2012.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft, with a median value of Rs 935 per sq.ft. The guideline value of Jayalakshmi Nagar is below this median.

• Jayalakshmi Nagar Anex - 1: Rs 800 per sq.ft (2024)
• Jayalakshmi Nagar Annexure 2: Rs 1,650 per sq.ft (2024)
• Jayalakshmi Nagar Annexure -III: Rs 1,650 per sq.ft (2024)
• Jai Nagar Phase II: Rs 1,210 per sq.ft (2024)
• Hari Sai Nagar: Rs 800 per sq.ft (2024)
• Gangai Amman Koil St: Rs 660 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 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total charges to Rs 72,000. 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 more details.

Which Sub Registrar Office covers Jayalakshmi Nagar?

The Sub Registrar Office covering Jayalakshmi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Malayambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the government receives the correct revenue based on the property's assessed value. Buyers and sellers should be aware of these values 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 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Jayalakshmi Nagar increased from Rs 737 per sq.ft in 2017 to Rs 800 per sq.ft in 2024, which is a 9% increase. There was no change in the value from 2017 to 2023.

What are the guideline values of other streets in Malayambakkam?

Other streets in Malayambakkam have varying guideline values, ranging from Rs 450 to Rs 2,750 per sq.ft. The median value for these streets is Rs 935 per sq.ft.

What is the registration fee for property in Jayalakshmi Nagar?

The registration fee is calculated based on the guideline value. For a property valued at Rs 8,00,000, the registration fee at 2% would be Rs 16,000.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles registrations for properties in Jayalakshmi Nagar.