Guideline Value for JAYALAKSHMI NAGAR

Jayalakshmi Nagar guideline value

The current guideline value of Jayalakshmi Nagar is Rs 485 per sq.ft, effective from 1 July 2024. This area is located in Vichoor_B village under the Thiruvottiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Jayalakshmi Nagar has changed

In the 2017 revision, the guideline value was Rs 295 per sq.ft. This increased significantly to Rs 441 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has set the value at Rs 485 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, 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 Vichoor_B

In Vichoor_B, there are 45 streets under the Thiruvottiyur SRO with a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft. The median value is Rs 485 per sq.ft, which is also the current guideline value for Jayalakshmi Nagar.

• Jagan Nagar Ext: Rs 485 per sq.ft (2024)
• Jagan Nagar: Rs 485 per sq.ft (2024)
• Jovan Nagar: Rs 485 per sq.ft (2024)
• I.J Puram: Rs 485 per sq.ft (2024)
• Kamaraj Nagar: Rs 440 per sq.ft (2024)
• Ganapathi Nagar: Rs 485 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 485 per sq.ft, the guideline value would amount to Rs 4,85,000. The stamp duty is charged at 7%, which would be Rs 33,950, and the registration fee at 2% would be Rs 9,700. Together, the total fees would amount to Rs 43,650. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Vichoor_B

The guideline value is an essential factor in property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value during negotiations to ensure compliance with local regulations.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar?

The current guideline value of Jayalakshmi Nagar is Rs 485 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 295 per sq.ft to Rs 485 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty rates for properties in Jayalakshmi Nagar?

The stamp duty for properties in Jayalakshmi Nagar is 7% of the guideline value, while the registration fee is 2% of the guideline value.

Where can I find the Thiruvottiyur Sub Registrar Office?

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

How is the guideline value determined for properties in Vichoor_B?

The guideline value for properties in Vichoor_B is determined by the local registration department and reflects the prevailing market conditions and property classifications in the area.