Guideline Value for JAYAM NAGAR

Jayam Nagar guideline value

The current guideline value of Jayam Nagar is Rs 2,450 per sq.ft, effective from 1 July 2024. This area is located in Kolacheri village and falls under the Kunrathur SRO. The land classification for this locality is Residential Special Type - II.

How the guideline value of Jayam Nagar has changed

The guideline value for Jayam Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 1,500 per sq.ft, which increased significantly to Rs 2,239 per sq.ft in the 2023 revision. The most recent 2024 revision has further raised the guideline value to Rs 2,450 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kolacheri

In Kolacheri, there are 13 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 2,450 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, indicating that Jayam Nagar's 2024 figure is above this median.

• Kunrathur-Poonamalee Road: Rs 990 per sq.ft (2024)
• Devi Karumariamman Nagar: Rs 660 per sq.ft (2024)
• Parvathi Nagar: Rs 660 per sq.ft (2024)
• Sree Residency: Rs 660 per sq.ft (2024)
• Sri Janani Nagar: Rs 660 per sq.ft (2024)
• Sri Karumariamman Nagar Annexe: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Jayam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,450 per sq.ft, the total guideline value amounts to Rs 24,50,000. The stamp duty at 7% would be Rs 1,71,500, and the registration fee at 2% would be Rs 49,000, bringing the total fees to Rs 2,20,500. It is important to 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 Jayam Nagar?

The Sub Registrar Office that covers Jayam Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Kolacheri. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When you buy or sell property, the guideline value will be used to calculate the applicable stamp duty and registration fees. This ensures transparency and fairness in property transactions, as the guideline value reflects the official assessment of property worth in the area.

Frequently asked questions

What is the current guideline value of Jayam Nagar?

The current guideline value of Jayam Nagar is Rs 2,450 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

The guideline value has increased by 63% from Rs 1,500 per sq.ft in 2017 to Rs 2,450 per sq.ft in 2024.

What is the median guideline value of other streets in Kolacheri?

The median guideline value of other streets in Kolacheri is Rs 660 per sq.ft, while Jayam Nagar's value is above this median.

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

For a property valued at Rs 24,50,000, the stamp duty would be Rs 1,71,500 and the registration fee would be Rs 49,000, totaling Rs 2,20,500.

Which office handles property registrations in Jayam Nagar?

The Kunrathur Sub Registrar Office handles property registrations in Jayam Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.