Guideline Value for JAYANTH COLONY

Jayanth Colony guideline value

The current guideline value of Jayanth Colony, located in Villivakkam village, is Rs 9,800 per sq.ft, effective from 1 July 2024. This area falls under the Villivakkam SRO and is classified as Residential Class I Type - III.

How the guideline value of Jayanth Colony has changed

The guideline value of Jayanth Colony has undergone several revisions over the years. In 2002, the value was Rs 1,232 per sq.ft, which increased to Rs 1,500 per sq.ft in 2003, marking a 22% rise. By 2007, the value saw a significant jump to Rs 2,050 per sq.ft, reflecting a 37% increase. The 2012 revision maintained the value at Rs 9,000 per sq.ft, which was a notable rise of 339% from the previous revision. However, this was followed by a decrease to Rs 6,030 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value increased to Rs 9,000 per sq.ft, a rise of 49%. The most recent revision in 2024 set the value at Rs 9,800 per sq.ft, which is a 9% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 695%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO, with 2024 figures ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value for the village is Rs 4,900 per sq.ft, placing Jayanth Colony's 2024 figure above this median.

• Jawaharlal Nehru Road (100feet Road): Rs 13,200 per sq.ft (2024)
• Iswarya Flats: Rs 9,800 per sq.ft (2024)
• Kailash Colony: Rs 12,100 per sq.ft (2024)
• Imayam Colony: Rs 8,200 per sq.ft (2024)
• I.C.F.ANNEX (Near M.T.H.Road): Rs 5,500 per sq.ft (2024)
• I - Block: Rs 9,800 per sq.ft (2024)

Stamp duty and registration fee for property in Jayanth Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 9,800 per sq.ft, the total guideline value amounts to Rs 98,00,000. The stamp duty at 7% would be Rs 6,86,000, and the registration fee at 2% would be Rs 1,96,000, bringing the total to Rs 8,82,000. 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 Jayanth Colony?

The Sub Registrar Office that covers Jayanth Colony is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Villivakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the higher value between the guideline value and the sale price is considered for calculating these fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jayanth Colony?

The current guideline value of Jayanth Colony is Rs 9,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 1,232 per sq.ft in 2002 to Rs 9,800 per sq.ft in 2024, which is an overall increase of 695%.

What is the land classification of Jayanth Colony?

Jayanth Colony is classified as Residential Class I Type - III according to the guideline value register.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Jayanth Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 98,00,000, the stamp duty would be Rs 6,86,000 at 7%.