Guideline Value for JAYALAKSHMI NAGAR

Jayalakshmi Nagar guideline value

The current guideline value of Jayalakshmi Nagar, located in Nanthiambakkam village under the Thiruvottiyur SRO, is Rs 330 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Jayalakshmi Nagar has changed

The guideline value for Jayalakshmi Nagar has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 33 per sq.ft. This increased to Rs 39 per sq.ft in 2003, marking an 18% rise. In 2007, the value jumped significantly to Rs 50 per sq.ft, reflecting a 28% increase. The next revision in 2012 saw a notable rise to Rs 300 per sq.ft, which was a 500% increase. However, in 2017, the value decreased to Rs 201 per sq.ft, a decline of 33%. The 2023 revision brought the value back up to Rs 300 per sq.ft, and the most recent revision in 2024 set it at Rs 330 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 900%. There are no figures available for the revisions in years not mentioned in the register for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft, with the median value being Rs 330 per sq.ft. Jayalakshmi Nagar's 2024 figure aligns with this median.

• Jai Maruthi Avenue/Nagar/All Phases: Rs 330 per sq.ft (2024)
• Happy Town: Rs 275 per sq.ft (2024)
• Gowtham Nagar: Rs 770 per sq.ft (2024)
• Golden Nagar: Rs 330 per sq.ft (2024)
• Gms Nagar: Rs 330 per sq.ft (2024)
• Gayathri Nagar: Rs 330 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 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total fees to Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

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 Nanthiambakkam

The guideline value is a crucial factor during the registration of property transactions in Nanthiambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value will be referenced to calculate the applicable fees. Buyers should be aware that the stamp duty and registration fees are based on this value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar?

The current guideline value of Jayalakshmi Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 33 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 900% over this period.

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

For a property valued at Rs 3,30,000, the stamp duty is Rs 23,100 and the registration fee is Rs 6,600, totaling Rs 29,700.

Which office handles property registrations in Jayalakshmi Nagar?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties. The applicable stamp duty and registration fees are based on this value or the sale price, whichever is higher.