Guideline Value for JUPITER MEGA CITY

Jupiter Mega City guideline value

The current guideline value of Jupiter Mega City in Nelli village, under the Salavakkam SRO, is Rs 103 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Jupiter Mega City has changed

The guideline value for Jupiter Mega City has seen several revisions over the years. In 2012, the value was set at Rs 100 per sq.ft. This figure changed to Rs 67 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 100 per sq.ft. The most recent revision in 2024 has increased the guideline value to Rs 103 per sq.ft, reflecting a 3% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 3%.

Guideline values in Nelli

Nelli village has 25 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 101 to Rs 103 per sq.ft, with the median being Rs 103 per sq.ft. Jupiter Mega City's 2024 figure is equal to that median. Below are the guideline values for other streets in Nelli:

• Jayam Nagar K.B.K.city: Rs 103 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 103 per sq.ft (2024)
• Malligai Nagar: Rs 103 per sq.ft (2024)
• Deepam Nagar Part-2: Rs 103 per sq.ft (2024)
• Deepam Nagar: Rs 101 per sq.ft (2024)
• Muthamiz Nagar: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Jupiter Mega City

For a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft, the total guideline value would be Rs 1,03,000. The stamp duty at 7% would amount to Rs 7,210, and the registration fee at 2% would be Rs 2,060, bringing the total to Rs 9,270. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jupiter Mega City?

The Sub Registrar Office that covers Jupiter Mega City is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Nelli. It determines the minimum value at which the property can be registered, ensuring transparency in transactions. Buyers and sellers must consider the guideline value to calculate the applicable stamp duty and registration fees during the registration process.

When a property is sold, the guideline value serves as a benchmark for taxation purposes. The registration process requires that the sale price or the guideline value, whichever is higher, is used to compute the stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Jupiter Mega City?

The current guideline value of Jupiter Mega City is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 103 per sq.ft in 2024.

What is the land classification for Jupiter Mega City?

The land classification for Jupiter Mega City is Residential Special Type - I.

What are the stamp duty and registration fees for a property in Jupiter Mega City?

For a 1,000 sq.ft plot, the total guideline value is Rs 1,03,000. The stamp duty would be Rs 7,210, and the registration fee would be Rs 2,060, totaling Rs 9,270.

Where is the Sub Registrar Office for Jupiter Mega City located?

The Sub Registrar Office for Jupiter Mega City is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.