Guideline Value for Jagajeevanram Nagar

Jagajeevanram Nagar guideline value

The current guideline value for Jagajeevanram Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality is situated in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Jagajeevanram Nagar has changed

The guideline value for Jagajeevanram Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which saw a significant increase to Rs 2,000 per sq.ft in 2012, marking a rise of 233%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a drop of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, representing a rise of 49% from the previous figure. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from 2023.

There are no figures available in the register for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Selaiyur

Selaiyur village has a total of 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value for Jagajeevanram Nagar.

• Jagageevanram Street: Rs 2,200 per sq.ft (2024)
• Jagageevanram Colony: 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 Jagajeevanram Nagar

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, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jagajeevanram Nagar?

The Sub Registrar Office that covers Jagajeevanram Nagar 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 information.

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

The guideline value plays a crucial role in property transactions in Selaiyur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The authorities use this value to ensure that the taxes collected reflect the current market conditions and property values.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jagajeevanram Nagar?

The current guideline value of Jagajeevanram Nagar 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 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What are the stamp duty and registration fees for properties in Jagajeevanram Nagar?

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 office handles property registrations in Jagajeevanram Nagar?

The Selaiyur Sub Registrar Office handles property registrations in Jagajeevanram Nagar, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It is compared with the sale price to ensure the correct fees are applied based on the higher value.