Guideline Value for JAYALAKSHMI NAGAR

Jayalakshmi Nagar guideline value

The current guideline value of Jayalakshmi Nagar is Rs 220 per sq.ft, effective from 1 July 2024. This area is located in Vallur village under the Thiruvottiyur SRO, classified as Residential Class II Type - I.

How the guideline value of Jayalakshmi Nagar has changed

In the 2017 revision, the guideline value was Rs 134 per sq.ft. This increased to Rs 200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw another increase to Rs 220 per sq.ft, reflecting a change of 10% from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 551 per sq.ft. The median value is Rs 220 per sq.ft, which is equal to the guideline value of Jayalakshmi Nagar.

• Jaya Nagar: Rs 220 per sq.ft (2024)
• Joseph Street: Rs 220 per sq.ft (2024)
• J.R. Nagar: Rs 220 per sq.ft (2024)
• Kairali Nagar: Rs 220 per sq.ft (2024)
• Ilakaliyamman Nagar: Rs 220 per sq.ft (2024)
• Kamatchi Nagar: Rs 220 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 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, together totaling Rs 19,800. Please 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Vallur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in ensuring transparency in transactions and is essential for legal documentation 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 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023, and then to Rs 220 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the classification of land in Jayalakshmi Nagar?

Jayalakshmi Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400 and the registration fee would be Rs 4,400, totaling Rs 19,800. These fees are calculated based on the guideline value or the sale price, whichever is higher.

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

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