Guideline Value for JOVAN NAGAR

Jovan Nagar guideline value

The current guideline value of Jovan Nagar is Rs 485 per sq.ft, effective from 1 July 2024. This street is located in Vichoor_B village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Jovan Nagar has changed

The guideline value for Jovan Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 295 per sq.ft. In 2023, this increased to Rs 441 per sq.ft, marking a 49% rise. The most recent 2024 revision has further increased the guideline value to Rs 485 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vichoor_B

In Vichoor_B, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft. The median guideline value for these streets is Rs 485 per sq.ft, which is equal to the current guideline value of Jovan Nagar.

• Jayalakshmi Nagar: Rs 485 per sq.ft (2024)
• Kamaraj Nagar: Rs 440 per sq.ft (2024)
• Jagan Nagar Ext: Rs 485 per sq.ft (2024)
• Jagan Nagar: Rs 485 per sq.ft (2024)
• I.J Puram: Rs 485 per sq.ft (2024)
• Kolaviziamman Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Jovan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 485 per sq.ft, the total guideline value amounts to Rs 4,85,000. The stamp duty at 7% would be Rs 33,950, and the registration fee at 2% would be Rs 9,700, bringing the total cost for these fees to Rs 43,650. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Jovan Nagar?

The Sub Registrar Office that covers Jovan Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Vichoor_B. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is aligned with the official valuation set by the Registration Department.

Frequently asked questions

What is the current guideline value of Jovan Nagar?

The current guideline value of Jovan Nagar is Rs 485 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased by 64%, rising from Rs 295 per sq.ft to Rs 485 per sq.ft in 2024.

What is the median guideline value for streets in Vichoor_B?

The median guideline value for streets in Vichoor_B is Rs 485 per sq.ft, which is the same as the current guideline value for Jovan Nagar.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Jovan Nagar?

Stamp duty for properties in Jovan Nagar is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 4,85,000, the stamp duty would be Rs 33,950 at a rate of 7%.