Guideline Value for Jagadeeswari Nagar

Jagadeeswari Nagar guideline value

The current guideline value of Jagadeeswari Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village under the Padappai SRO, classified as Residential Special Type - II.

How the guideline value of Jagadeeswari Nagar has changed

The guideline value for Jagadeeswari Nagar has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The value rose again to Rs 1,500 per sq.ft in 2023 and is now Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year. The register has no figure for this street in 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 1000%. The changes between the revisions include a 900% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a substantial 49% increase from 2017 to 2023.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, which aligns with the guideline value of Jagadeeswari Nagar.

• Ishwaryam Garden: Rs 1,320 per sq.ft (2024)
• J A Nagar S.No 249/1a1b, 1b1b2 Part: Rs 1,980 per sq.ft (2024)
• Janakpurai Nagar: Rs 990 per sq.ft (2024)
• Jashmine Nagar: Rs 1,100 per sq.ft (2024)
• Hitech City Phase I and II: Rs 1,650 per sq.ft (2024)
• Hill Road Avenue: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Jagadeeswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. It is important to note that the 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 Jagadeeswari Nagar?

The Jagadeeswari Nagar area falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Varadarajapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the registration office uses the guideline value to calculate applicable duties and fees, which are necessary for completing the transaction. This ensures that all parties are aware of the financial obligations involved in the property transfer process.

Frequently asked questions

What is the current guideline value of Jagadeeswari Nagar?

The current guideline value of Jagadeeswari Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 150 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1000% over the years.

What is the land classification of Jagadeeswari Nagar?

Jagadeeswari Nagar is classified as Residential Special Type - II, indicating its designated use for residential purposes.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated in Jagadeeswari Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.