Guideline Value for JYOTHI NAGAR

Jyothi Nagar guideline value

The current guideline value of Jyothi Nagar, located in Palliagaram village under the Salavakkam SRO, is Rs 104 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Jyothi Nagar has changed

The guideline value for Jyothi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which was then reduced to Rs 67 per sq.ft in the 2017 revision. Following this, the value increased to Rs 100 per sq.ft in the 2023 revision and is now Rs 104 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%, while from 2017 to 2023, it increased by 49%. The change from 2023 to 2024 reflects a 4% increase. Overall, from 2012 to 2024, the guideline value has increased by 4%.

Guideline values in Palliagaram

In Palliagaram, there are 7 streets under the Salavakkam SRO that carry a 2024 guideline value of Rs 104 per sq.ft, with the median also at Rs 104 per sq.ft. Jyothi Nagar's 2024 figure is equal to this median.

• Jothi Nagar Part-II: Rs 104 per sq.ft (2024)
• Jothi Nagar Part-I: Rs 104 per sq.ft (2024)
• Rajarathinam Nagar: Rs 104 per sq.ft (2024)
• Rajinikanth Nagar: Rs 104 per sq.ft (2024)
• Rb Nagar: Rs 104 per sq.ft (2024)
• Rb Nagar Phase-II: Rs 104 per sq.ft (2024)

Stamp duty and registration fee for property in Jyothi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 104 per sq.ft, the total guideline value would be Rs 1,04,000. The stamp duty at 7% would amount to Rs 7,280, and the registration fee at 2% would be Rs 2,080, bringing the total to Rs 9,360. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jyothi Nagar?

The Sub Registrar Office that covers Jyothi Nagar 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 Palliagaram

The guideline value is a crucial factor in property transactions in Palliagaram. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration. Buyers should be aware that these costs can significantly affect the overall expense of acquiring property.

When selling property, the guideline value helps establish a baseline for the sale price. It ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Jyothi Nagar?

The current guideline value of Jyothi Nagar is Rs 104 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 to Rs 100 per sq.ft in 2023, and finally to Rs 104 per sq.ft in 2024.

What are the other streets in Palliagaram with the same guideline value?

Other streets in Palliagaram under the Salavakkam SRO also have a guideline value of Rs 104 per sq.ft in 2024, including Jothi Nagar Part-I, Jothi Nagar Part-II, Rajarathinam Nagar, Rajinikanth Nagar, Rb Nagar, and Rb Nagar Phase-II.

What fees are associated with buying property in Jyothi Nagar?

When buying property in Jyothi Nagar, buyers will need to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

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

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