Guideline Value for JAYAPAL GARDEN

Jayapal Garden guideline value

The current guideline value of Jayapal Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village under the Neelankarai SRO, classified as Residential Class IV Type - II.

How the guideline value of Jayapal Garden has changed

The guideline value for Jayapal Garden has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the latest revision in 2024 has raised it to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The changes between the revisions include a significant increase of 49% from 2017 to 2023, while the 2012 to 2017 period saw a decrease of 33%. It is important to note that the register has no figure for Jayapal Garden for the years 2002, 2003, and 2007.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value of Jayapal Garden is below this median.

• Jayaraj Garden: Rs 1,100 per sq.ft (2024)
• Jayanthi / Kodanda Pani Garden: Rs 1,000 per sq.ft (2024)
• Jayanthi Garden: Rs 1,100 per sq.ft (2024)
• Jayalakshmi Garden: Rs 1,700 per sq.ft (2024)
• Jawahar Nagar: Rs 1,100 per sq.ft (2024)
• Jappiar College: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jayapal Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 Jayapal Garden?

The Sub Registrar Office covering Jayapal Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Chemmancheri. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value, as it affects the financial obligations during the registration process. This ensures transparency and compliance with local regulations regarding property transactions.

Frequently asked questions

What is the current guideline value of Jayapal Garden?

The current guideline value of Jayapal Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Jayapal Garden?

Jayapal Garden is classified as Residential Class IV Type - II according to the local land classification standards.

Where can I find the Sub Registrar Office for Jayapal Garden?

The Sub Registrar Office for Jayapal Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Jayapal Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.