Guideline Value for JAYARAJ GARDEN

Jayaraj Garden guideline value

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

How the guideline value of Jayaraj Garden has changed

The guideline value for Jayaraj Garden has seen several revisions over the years. In the 2012 revision, the value was Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in the 2017 revision. The value then increased significantly to Rs 1,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chemmancheri

In Chemmancheri, 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 for Jayaraj Garden is below this median.

• Jayapal 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 Jayaraj Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total charges 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 also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Jayaraj Garden?

The Sub Registrar Office that covers Jayaraj 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 details.

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

The guideline value is a critical factor in the registration process 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, the guideline value serves as a benchmark for both parties. It is essential to consider this value to avoid any legal issues during the registration process, as the duty is calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Jayaraj Garden?

The current guideline value of Jayaraj 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 increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Jayaraj Garden?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for Jayaraj Garden?

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

What is the land classification for Jayaraj Garden?

Jayaraj Garden is classified as Residential Class IV Type - II, indicating its suitability for residential development.