Guideline Value for JAYALAKSHMI NAGAR

Jayalakshmi Nagar guideline value

The current guideline value of Jayalakshmi Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village under the Selaiyur SRO, classified as Mixed Type - II land.

How the guideline value of Jayalakshmi Nagar has changed

The guideline value for Jayalakshmi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rebounded to Rs 2,500 per sq.ft in the 2023 revision, and further increased to Rs 2,700 per sq.ft in the 2024 revision, reflecting an 8% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 8%. The 2023 to 2024 revision represents an 8% increase, while the jump from 2017 to 2023 shows a significant rise of 49%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value among these streets is Rs 2,700 per sq.ft, placing Jayalakshmi Nagar's current value at the median.

• J C V Avenue: Rs 2,700 per sq.ft (2024)
• Ishwaryam Garden: Rs 2,700 per sq.ft (2024)
• Indira Nagar Extentsion: Rs 3,700 per sq.ft (2024)
• Indira Nagar: Rs 2,700 per sq.ft (2024)
• G.V.Nagar: Rs 2,400 per sq.ft (2024)
• Kambar Street: Rs 2,200 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total charges Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Vengaivasal. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that both parties comply with the legal requirements.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. This value serves as a benchmark for the transaction and is critical for accurate documentation.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar?

The current guideline value of Jayalakshmi Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Jayalakshmi Nagar?

Jayalakshmi Nagar is classified as Mixed Type - II land, which is an important aspect of its guideline value.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for property in Jayalakshmi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.