Guideline Value for Jagathambal Nagar

Jagathambal Nagar guideline value

The current guideline value of Jagathambal Nagar, located in Ullagaram village under the Alandur SRO, is Rs 3,900 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Jagathambal Nagar has changed

The guideline value for Jagathambal Nagar has seen significant changes over the years. In the 2002 revision, the value was Rs 249 per sq.ft, which increased to Rs 279 per sq.ft in 2003. Following this, the value rose to Rs 1,000 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and finally reached Rs 3,900 per sq.ft in the 2024 revision.

In terms of percentage changes, from 2002 to 2024, the overall increase is 1,466%. The value increased by 12% from 2002 to 2003, 258% from 2003 to 2007, 250% from 2007 to 2012, and then decreased by 33% from 2012 to 2017. The value saw a substantial increase of 49% from 2017 to 2023, followed by an 11% rise from 2023 to 2024.

Guideline values in Ullagaram

In Ullagaram village, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, making the guideline value of Jagathambal Nagar above this median.

• Jagathambal Colony: Rs 3,900 per sq.ft (2024)
• Indira Street Main: Rs 2,200 per sq.ft (2024)
• Jayanthi Nagar 10th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 11th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 12th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 13th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Jagathambal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Jagathambal Nagar?

The Sub Registrar Office that covers Jagathambal Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property registration process. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the necessary taxes are paid to the government. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Jagathambal Nagar?

The current guideline value of Jagathambal Nagar is Rs 3,900 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 249 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,466%.

What is the land classification of Jagathambal Nagar?

Jagathambal Nagar falls under the Residential Class I Type - III land classification.

What are the stamp duty and registration fees for property in Jagathambal Nagar?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations for Jagathambal Nagar?

The Alandur Sub Registrar Office handles property registrations for Jagathambal Nagar, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.