Guideline Value for JOB NAGAR

Job Nagar guideline value

The current guideline value of Job Nagar, located in Palavakkam village under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - II.

How the guideline value of Job Nagar has changed

The guideline value for Job Nagar has seen several revisions over the years. In 2012, the value was Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. The 2023 revision brought it back up to Rs 1,500 per sq.ft, and the most recent revision in 2024 set it at Rs 1,700 per sq.ft.

Between the revisions, the guideline value changed as follows: from 2017 to 2023, it increased by 49%, and from 2023 to 2024, it rose by 13%. Overall, from 2012 to 2024, there has been a 13% increase in the guideline value.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Job Nagar's 2024 figure below this median.

• Jegabathi Rao Street: Rs 1,700 per sq.ft (2024)
• Jeevarathinam Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Jeevarathinam Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Jeevarathinam Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Jeevarathinam Nagar: Rs 2,200 per sq.ft (2024)
• Jeevanandam Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Job Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value totals Rs 17,00,000. The stamp duty at 7% amounts to Rs 1,19,000, while the registration fee at 2% is Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Job Nagar?

The Sub Registrar Office that covers Job Nagar 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 Palavakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Palavakkam. It serves as a reference point for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Job Nagar?

The current guideline value of Job Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What are the other streets in Palavakkam and their values?

Other streets in Palavakkam have varying guideline values, with Jegabathi Rao Street at Rs 1,700 per sq.ft and several streets in Jeevarathinam Nagar at Rs 2,200 per sq.ft, among others.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 17,00,000, the total fees would amount to Rs 1,53,000.

Where can I find the Sub Registrar Office for Job Nagar?

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