Guideline Value for Jagadambal Lane

Jagadambal Lane guideline value

The current guideline value of Jagadambal Lane is Rs 2,750 per sq.ft. This street is located in Nesapakkam village under the Virugambakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Jagadambal Lane has changed

Over the years, the guideline value of Jagadambal Lane has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,750 per sq.ft.

Specifically, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nesapakkam

Nesapakkam has a total of 148 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft as of the 2024 revision. The median guideline value for the village is Rs 3,300 per sq.ft, placing the 2024 figure for Jagadambal Lane below this median.

• Jaibalaji Nagar: Rs 3,300 per sq.ft (2024)
• Jaibalaji Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Jaibalaji Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Jaibalaji Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Jaibalaji Nagar Main Road: Rs 3,300 per sq.ft (2024)
• INDIRA NAGAR - Pachaiyappan Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Jagadambal Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jagadambal Lane?

The Sub Registrar Office that covers Jagadambal Lane is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To locate your nearest SRO, you can find your SRO.

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

The guideline value is a critical factor in property transactions in Nesapakkam, as it determines the minimum value on which stamp duty and registration fees are calculated. When buying or selling a property, the guideline value must be adhered to, ensuring compliance with local regulations.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jagadambal Lane?

The current guideline value of Jagadambal Lane is Rs 2,750 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Jagadambal Lane?

Jagadambal Lane is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the guideline values of other streets in Nesapakkam?

Other streets in Nesapakkam have guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft, with the median being Rs 3,300 per sq.ft.

Where can I find the Sub Registrar Office for Jagadambal Lane?

The Sub Registrar Office covering Jagadambal Lane is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.