Guideline Value for JAYANTHI NAGAR

Jayanthi Nagar guideline value

The current guideline value of Jayanthi Nagar, located in Korattur village under the Villivakkam SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Jayanthi Nagar has changed

The guideline value for Jayanthi Nagar has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017, before rising again to Rs 1,200 per sq.ft in 2023. The current value, effective from 2024, is Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 420%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value of Jayanthi Nagar is below this median.

• JAYA NAGAR (Madanakuppam): Rs 1,600 per sq.ft (2024)
• Jaya Nagar (Kallikuppam): Rs 1,300 per sq.ft (2024)
• Jaya Nagar Extension: Rs 2,900 per sq.ft (2024)
• Jaya Nagar Annexe: Rs 2,900 per sq.ft (2024)
• Jaya Nagar: Rs 2,900 per sq.ft (2024)
• Jasmin Nagar: Rs 1,300 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, leading to a total of Rs 1,17,000. 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 further calculations.

Which Sub Registrar Office covers Jayanthi Nagar?

The Sub Registrar Office that covers Jayanthi Nagar 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 Korattur

The guideline value plays a crucial role during property registration in Korattur. It is used to determine the stamp duty and registration fees, which are mandatory costs when transferring property ownership. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When selling property, the guideline value can influence the selling price, as it provides a benchmark for potential buyers. It is essential for both buyers and sellers to understand the current guideline value to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Jayanthi Nagar?

The current guideline value of Jayanthi Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, with various revisions in between, including a decrease and subsequent increases.

What is the land classification of Jayanthi Nagar?

Jayanthi Nagar is classified as Residential Class IV Type - I.

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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 13,00,000 would incur a stamp duty of Rs 91,000 and a registration fee of Rs 26,000.