Guideline Value for Jagan Nagar

Jagan Nagar guideline value

The current guideline value for Jagan Nagar, located in Naduveerapattu village under the Padappai SRO, is Rs 770 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Jagan Nagar has changed

The guideline value for Jagan Nagar has undergone several revisions over the years. The earliest recorded revision was in 2017, with a guideline value of Rs 469 per sq.ft. This was followed by a significant increase to Rs 700 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw the value increase to Rs 770 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Naduveerapattu

Naduveerapattu village has 96 streets under the Padappai SRO, with 2024 guideline values ranging from Rs 330 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, placing Jagan Nagar's 2024 figure above this median.

• Indira Nagar: Rs 1,650 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 660 per sq.ft (2024)
• Indigo Nagar: Rs 1,320 per sq.ft (2024)
• Gurupatham Nagar: Rs 550 per sq.ft (2024)
• Green Paradise Phase - II: Rs 660 per sq.ft (2024)
• Green Paradise Part I and II: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Jagan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty, charged at 7%, would be Rs 53,900, while the registration fee at 2% would be Rs 15,400. Together, the total cost for stamp duty and registration fees would be Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jagan Nagar?

The Sub Registrar Office that covers Jagan Nagar is 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Naduveerapattu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jagan Nagar?

The current guideline value of Jagan Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by 64%, rising from Rs 469 per sq.ft to Rs 770 per sq.ft.

What is the median guideline value in Naduveerapattu?

The median guideline value in Naduveerapattu is Rs 660 per sq.ft, with Jagan Nagar's value being above this median.

What are the stamp duty rates for property in Jagan Nagar?

The stamp duty rate for property in Jagan Nagar is 7% of the guideline value or sale price, whichever is higher.

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.