Guideline Value for JAYALAKSHMI NAGAR

Jayalakshmi Nagar guideline value

The current guideline value of Jayalakshmi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Perambur village, under the Purasaivakkam 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 guideline value was Rs 336 per sq.ft. This increased to Rs 369 per sq.ft in 2003, marking a 10% rise. Following this, the value rose by 36% to Rs 500 per sq.ft in 2007. The 2012 revision saw a decrease, bringing the value back to Rs 2,000 per sq.ft, a drop of 33% from the previous figure. In 2017, the value increased to Rs 1,340 per sq.ft, reflecting a 49% rise. The 2023 revision set the value at Rs 2,000 per sq.ft, and the most recent revision in 2024 established the current value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 555% for Jayalakshmi Nagar. There are no figures available for the other revisions not mentioned in this timeline.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Jayalakshmi Nagar is below this median.

• Jawahar Street: Rs 2,700 per sq.ft (2024)
• Janagiraman Garden: Rs 3,800 per sq.ft (2024)
• Jamal Nagar: Rs 5,400 per sq.ft (2024)
• Jamalia Nagar Main Road & Cross Street: Rs 6,400 per sq.ft (2024)
• Jamalia Nagar: Rs 6,400 per sq.ft (2024)
• Jamalia Link Road: Rs 6,400 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also 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 Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perambur. It serves as a benchmark for determining the minimum value at which property can be sold or purchased. Both the stamp duty and registration fees are calculated based on this guideline value, ensuring that all transactions are conducted fairly and transparently.

When a property is sold, the guideline value helps in assessing the appropriate taxes that need to be paid. This ensures that the government receives its due revenue from property transactions, while also providing a clear framework for buyers and sellers to understand the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar?

The current guideline value of Jayalakshmi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 336 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting a significant overall increase of 555% over the years.

What are the stamp duty and registration fees for property in Jayalakshmi Nagar?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Jayalakshmi Nagar?

The Purasaivakkam Sub Registrar Office covers Jayalakshmi Nagar, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification of Jayalakshmi Nagar?

Jayalakshmi Nagar is classified as Residential Class IV Type - I, indicating its suitability for residential development.