Guideline Value for Jagageevanram Colony

Jagageevanram Colony guideline value

The current guideline value of Jagageevanram Colony, located in Selaiyur village under the Selaiyur SRO, is Rs 2,200 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Jagageevanram Colony has changed

Over the years, the guideline value of Jagageevanram Colony has seen several revisions. The earliest recorded value is from 2012 at Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The 2023 revision raised the value to Rs 2,000 per sq.ft, and the most recent revision in 2024 has increased it further to Rs 2,200 per sq.ft.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. The overall change from 2012 to 2024 shows a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current value for Jagageevanram Colony.

• Jagageevanram Street: Rs 2,200 per sq.ft (2024)
• Jagajeevanram Nagar: Rs 2,200 per sq.ft (2024)
• Iyyappan Street: Rs 2,400 per sq.ft (2024)
• Jain Avenue: Rs 2,400 per sq.ft (2024)
• IOB Colony 4th Main Road: Rs 3,500 per sq.ft (2024)
• IOB Colony 3rd Main Road: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Jagageevanram Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jagageevanram Colony?

The Sub Registrar Office covering Jagageevanram Colony is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions within Selaiyur. It serves as the basis for calculating stamp duty and registration fees when registering a property. Buyers and sellers should be aware that the guideline value is used to determine the official value of the property for tax purposes.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in real estate dealings. It is advisable for both buyers and sellers to familiarize themselves with the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Jagageevanram Colony?

The current guideline value of Jagageevanram Colony is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Jagageevanram Colony?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Jagageevanram Colony?

The Selaiyur Sub Registrar Office covers Jagageevanram Colony, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Jagageevanram Colony?

Jagageevanram Colony falls under the Residential Class I Type - I land classification.