Guideline Value for JEGAJEEVAN RAM NAGAR

Jegajeevan Ram Nagar guideline value

The current guideline value of Jegajeevan Ram Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Perambur village, under the jurisdiction of the Purasaivakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Jegajeevan Ram Nagar has changed

The guideline value for Jegajeevan Ram Nagar has undergone several revisions over the years. In 2002, the value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 500 per sq.ft in 2007, representing a 36% increase. Following this, the value surged to Rs 1,500 per sq.ft in 2012, reflecting a substantial 200% increase. However, it dropped to Rs 1,005 per sq.ft in 2017, a decrease 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 2002 to 2024, there has been a remarkable increase of 376% in the guideline value. The register has no figures for the years not listed above.

Guideline values in Perambur

In Perambur, the guideline values vary across different streets. The 2024 figures range from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Jegajeevan Ram Nagar is below this median.

• Jegadhambal Street: Rs 3,200 per sq.ft (2024)
• Jegajeevanram Nagar 1st Street: Rs 1,600 per sq.ft (2024)
• Jegajeevanram Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Jegajeevanram Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• Jegajeevanram Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• Jegajeevanram Nagar 5th Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Jegajeevan Ram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000. Therefore, the total cost for stamp duty and registration fees would be 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jegajeevan Ram Nagar?

The Sub Registrar Office that covers Jegajeevan Ram Nagar is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Perambur. It serves as a benchmark for determining the minimum value at which property transactions can be registered. Buyers and sellers must consider this value to ensure compliance with the registration requirements.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the necessary taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Jegajeevan Ram Nagar?

The current guideline value of Jegajeevan Ram Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 336 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, showing a total increase of 376% over this period.

What are the other streets in Perambur with their guideline values?

Other streets in Perambur include Jegadhambal Street at Rs 3,200 per sq.ft, and various streets in Jegajeevan Ram Nagar, all valued at Rs 1,600 per sq.ft in 2024.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles property registration for Jegajeevan Ram Nagar?

The Purasaivakkam Sub Registrar Office handles property registration for Jegajeevan Ram Nagar, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.