Guideline Value for JAYALAKSHMI NAGAR

Jayalakshmi Nagar guideline value

The current guideline value of Jayalakshmi Nagar, located in Matthur village under the Thiruvottiyur SRO, is Rs 1,100 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Jayalakshmi Nagar has changed

The guideline value for Jayalakshmi Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 68 per sq.ft, which increased to Rs 80 per sq.ft in 2003. Following that, there was a significant rise to Rs 200 per sq.ft in 2007. The value then surged to Rs 1,000 per sq.ft in 2012, but experienced a decrease to Rs 670 per sq.ft in 2017. The most recent revisions show the value increasing to Rs 1,000 per sq.ft in 2023 and further to Rs 1,100 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 18% from 2002 to 2003, followed by a 150% increase from 2003 to 2007. The value jumped by 400% from 2007 to 2012, but then decreased by 33% from 2012 to 2017. The value saw a 49% increase from 2017 to 2023 and finally a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1518%.

Guideline values in Matthur

In Matthur village, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with the median being Rs 1,100 per sq.ft. Jayalakshmi Nagar's 2024 figure aligns with this median.

• Jai Ganapathy Nagar: Rs 1,100 per sq.ft (2024)
• Kaliyuga Kannman Nagar: Rs 1,100 per sq.ft (2024)
• Grama Street: Rs 1,100 per sq.ft (2024)
• Kamaraj Nagar: Rs 1,100 per sq.ft (2024)
• Kamaraj Salai: Rs 1,650 per sq.ft (2024)
• Gomathi Garden: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Jayalakshmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Matthur. It is the basis for calculating the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the appropriate taxes are collected. This value is used to determine the financial obligations of the buyer, ensuring compliance with the local regulations.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar?

The current guideline value of Jayalakshmi Nagar is Rs 1,100 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 68 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting a significant overall increase of 1518% over the years.

What is the land classification for Jayalakshmi Nagar?

The land classification for Jayalakshmi Nagar is Residential Special Type - III, which indicates its designated use for residential purposes.

Where can I find the Sub Registrar Office for Jayalakshmi Nagar?

The Sub Registrar Office for Jayalakshmi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Jayalakshmi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.