Guideline Value for JAYAM NAGAR

Jayam Nagar guideline value

The current guideline value of Jayam Nagar in Kolathur village is Rs 600 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Jayam Nagar has changed

The guideline value for Jayam Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 600 per sq.ft. The 2024 revision has also maintained this value at Rs 600 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the 2012 revision to the 2024 revision, there has been a net change of 0%.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,600 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value of Jayam Nagar aligns with this median.

• Jawhars Emerald Garden: Rs 600 per sq.ft (2024)
• Jerusalam Nagar: Rs 600 per sq.ft (2024)
• Iniya Nagar: Rs 800 per sq.ft (2024)
• J.P.Jai Residency: Rs 700 per sq.ft (2024)
• Kamadhenu Avenue: Rs 700 per sq.ft (2024)
• Green Hill Avenue: Rs 850 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 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total to Rs 54,000. It is essential to note that duty is charged on the higher of the guideline value and the sale price. You can use our 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 Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Kolathur

The guideline value plays a crucial role during the registration of property transactions in Kolathur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Jayam Nagar?

The current guideline value of Jayam Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023 and 2024. There have been no figures available for the years 2002, 2003, and 2007.

What is the land classification of Jayam Nagar?

Jayam Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Jayam Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at Rs 600 per sq.ft would incur a total stamp duty of Rs 42,000.