Guideline Value for JAYANTHI NAGAR

Jayanthi Nagar guideline value

The current guideline value of Jayanthi Nagar, located in Ernavur village under the Thiruvottiyur SRO, is Rs 1,600 per sq.ft. This value is effective from the 2024 revision, which reflects the land classification as Residential Class I Type - II.

How the guideline value of Jayanthi Nagar has changed

The guideline value for Jayanthi Nagar has seen several revisions over the years. In 2003, the value was Rs 157 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2007. Following this, the value rose dramatically to Rs 1,500 per sq.ft in 2012, marking an increase of 329%. However, the value decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 1,500 per sq.ft in 2023, before reaching the current figure of Rs 1,600 per sq.ft in 2024, which is a 7% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 919%. It is important to note that the register has no figure for Jayanthi Nagar in 2002.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is equal to the 2024 figure for Jayanthi Nagar. Below are the guideline values for other streets in Ernavur:

• Jayalailtha nagar: Rs 1,600 per sq.ft (2024)
• Jaihith Nagar: Rs 1,800 per sq.ft (2024)
• Jothi Nagar/Main Roads/Cross Streets: Rs 1,800 per sq.ft (2024)
• Indra Gandhi Kuppam: Rs 1,400 per sq.ft (2024)
• Kamalammal Street: Rs 1,800 per sq.ft (2024)
• Kamarajar Nagar/ Main Streets/ Cross Streets: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Jayanthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayanthi Nagar?

The Jayanthi Nagar area falls under the jurisdiction of 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 Ernavur

The guideline value plays a crucial role in the registration process when buying or selling property in Ernavur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and fairly.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the registration process. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Jayanthi Nagar?

The current guideline value of Jayanthi Nagar is Rs 1,600 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 157 per sq.ft in 2003 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 919% over the years.

What is the land classification in Jayanthi Nagar?

Jayanthi Nagar is classified as Residential Class I Type - II, which indicates the type of development allowed in the area.

Where can I find the Sub Registrar Office for Jayanthi Nagar?

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

How do I calculate the stamp duty for a property in Jayanthi Nagar?

To calculate the stamp duty for a property in Jayanthi Nagar, you need to consider the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty at 7% would be Rs 1,12,000.