Guideline Value for JERUSALEM NAGAR

Jerusalem Nagar guideline value

The current guideline value of Jerusalem Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Puthucheri village under the Padappai SRO and is classified as Residential Class I Type - I.

How the guideline value of Jerusalem Nagar has changed

The guideline value for Jerusalem Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. Following this, the value increased significantly to Rs 500 per sq.ft in 2023, and further rose to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value increased by 10%.

Guideline values in Puthucheri

In Puthucheri, there are 16 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 1,500 per sq.ft, with a median value of Rs 625 per sq.ft. The guideline value of Jerusalem Nagar is below this median.

• Eden Garden: Rs 550 per sq.ft (2024)
• Lakshmi Nagar: Rs 550 per sq.ft (2024)
• Nano Homes: Rs 550 per sq.ft (2024)
• New Portia: Rs 550 per sq.ft (2024)
• Nimas: Rs 550 per sq.ft (2024)
• Pink House: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Jerusalem Nagar

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. Please 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 Jerusalem Nagar?

The Sub Registrar Office that covers Jerusalem Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Puthucheri, the guideline value plays a crucial role during the registration process. It is used to calculate the stamp duty and registration fees, ensuring that the transaction is in compliance with local regulations.

The guideline value is set by the government and is subject to periodic revisions. Buyers and sellers must be aware of the current guideline value to accurately assess the costs associated with property transactions.

Frequently asked questions

What is the current guideline value of Jerusalem Nagar?

The current guideline value of Jerusalem Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Jerusalem Nagar?

Jerusalem Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Jerusalem Nagar?

The registration office for Jerusalem Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for property in Jerusalem Nagar?

Stamp duty for property in Jerusalem Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 550 per sq.ft would incur a stamp duty of Rs 38,500.