Guideline Value for Jagan Mohan Nagar

Jagan Mohan Nagar guideline value

The current guideline value of Jagan Mohan Nagar, located in Kovilpathagai village, is Rs 806 per sq.ft. This value is effective from the 2024 revision, which falls under the Ambattur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Jagan Mohan Nagar has changed

In the 2012 revision, the guideline value was Rs 600 per sq.ft. This value decreased to Rs 402 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 100%, bringing it back to Rs 806 per sq.ft. The 2024 revision maintains this value, showing no change from the previous year.

The guideline value register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 34%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, making the 2024 figure for Jagan Mohan Nagar below this median.

• Indra Street: Rs 806 per sq.ft (2024)
• Indrani Street: Rs 806 per sq.ft (2024)
• Indra Nagar 2nd Street: Rs 807 per sq.ft (2024)
• Jashmine Gordan -1: Rs 807 per sq.ft (2024)
• Jashmine Gordan -2 Thomas 1st Street 2nd Street: Rs 807 per sq.ft (2024)
• Jashmine Gorden: Rs 807 per sq.ft (2024)

Stamp duty and registration fee for property in Jagan Mohan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 806 per sq.ft, the total guideline value would be Rs 8,06,000. The stamp duty at 7% would amount to Rs 56,420, and the registration fee at 2% would be Rs 16,120, making the total fees together Rs 72,540. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Jagan Mohan Nagar?

The Sub Registrar Office that covers Jagan Mohan Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when a property is bought or sold.

When registering a property, the guideline value is used to calculate the necessary fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Jagan Mohan Nagar?

The current guideline value of Jagan Mohan Nagar is Rs 806 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 806 per sq.ft in both 2023 and 2024.

What are the other streets in Kovilpathagai and their guideline values?

Other streets in Kovilpathagai include Indra Street and Indrani Street, both at Rs 806 per sq.ft, and Indra Nagar 2nd Street at Rs 807 per sq.ft, among others.

What is the registration office for Jagan Mohan Nagar?

The registration office for Jagan Mohan Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Jagan Mohan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total fees would be Rs 72,540.