Guideline Value for JEELANI NAGAR

Jeelani Nagar guideline value

The current guideline value of Jeelani Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village under the Chennai South Joint I SRO, and it falls under the Residential Class IV Type - II land classification.

How the guideline value of Jeelani Nagar has changed

Over the years, the guideline value of Jeelani Nagar has seen significant changes. The earliest recorded figure in the register is from 2002, which was Rs 43 per sq.ft. This increased to Rs 100 per sq.ft in 2003, marking a 133% rise. The value continued to climb, reaching Rs 400 per sq.ft in 2007, a 300% increase from the previous revision. In 2012, the value was recorded at Rs 1,200 per sq.ft, which was a substantial 200% increase from 2007. However, this figure decreased by 33% to Rs 804 per sq.ft in 2017. The guideline value then rose to Rs 1,200 per sq.ft in 2023, followed by a 10% increase to the current value of Rs 1,320 per sq.ft in 2024.

There are no figures available for the revisions of the years not listed in the register for Jeelani Nagar. The overall change from 2002 to 2024 is an impressive 2,970% increase.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values for 2024 ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, positioning Jeelani Nagar's 2024 figure below this median.

• Jeeva Nagar: Rs 2,200 per sq.ft (2024)
• Jeeva Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Jeeva Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Jeeva Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Jeeva Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Jeeva Nagar 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Jeelani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jeelani Nagar?

The Sub Registrar Office that covers Jeelani Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the necessary taxes are paid based on the established values.

Frequently asked questions

What is the current guideline value of Jeelani Nagar?

The current guideline value of Jeelani Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 43 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 2,970% over this period.

What is the median guideline value in Pallikaranai?

The median guideline value for streets in Pallikaranai is Rs 1,650 per sq.ft, which is higher than the current value of Jeelani Nagar.

What are the stamp duty and registration fees for property in Jeelani Nagar?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations for Jeelani Nagar?

The Chennai South Joint I Sub Registrar Office handles property registrations for Jeelani Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.