Guideline Value for JAYALAKSHMI NAGAR

Jayalakshmi Nagar guideline value

The current guideline value of Jayalakshmi Nagar in Vijayanallur village is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Jayalakshmi Nagar has changed

The guideline value for Jayalakshmi Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 500 per sq.ft. This was followed by a decrease to Rs 335 per sq.ft in 2017. In 2023, the value increased to Rs 500 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Vijayanallur

In Vijayanallur, there are 19 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 540 per sq.ft, placing Jayalakshmi Nagar's 2024 figure above this median.

• Kalikambal Nagar: Rs 440 per sq.ft (2024)
• Kalpaga Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Gnt Road: Rs 2,200 per sq.ft (2024)
• Mamannar Maruthupandiar Nagar: Rs 440 per sq.ft (2024)
• Maruthupandiar Nagar: Rs 550 per sq.ft (2024)
• Baby Enclave: Rs 540 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Vijayanallur. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar?

The current guideline value of Jayalakshmi Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the median guideline value in Vijayanallur?

The median guideline value in Vijayanallur for 2024 is Rs 540 per sq.ft, with Jayalakshmi Nagar's value being above this median.

Where is the Sub Registrar Office for Jayalakshmi Nagar located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Jayalakshmi Nagar?

Stamp duty is calculated based on the higher of the guideline value and the sale price. For example, for a property valued at Rs 5,50,000, the stamp duty at 7% would be Rs 38,500.