Guideline Value for Jagedeswari Nagar

Jagedeswari Nagar guideline value

The current guideline value of Jagedeswari Nagar, located in Pothur village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Jagedeswari Nagar has changed

The guideline value for Jagedeswari Nagar has undergone several revisions over the years. The earliest recorded value is from 2002, where the guideline value was Rs 237 per sq.ft. This increased significantly to Rs 24 per sq.ft in 2003, followed by a remarkable rise to Rs 300 per sq.ft in 2007. The value then saw an increase to Rs 500 per sq.ft in 2012, but it dropped to Rs 335 per sq.ft in 2017. The most recent revisions show an increase to Rs 500 per sq.ft in 2023 and finally to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year.

Between these revisions, the changes varied significantly. From 2002 to 2003, there was a decrease of 90%. However, from 2003 to 2007, the value surged by 1150%. The value then increased by 67% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The subsequent increase of 49% from 2017 to 2023 and the final increase of 10% from 2023 to 2024 brought the value to its current figure.

Guideline values in Pothur

Pothur village has a total of 98 streets under the Redhills SRO, with guideline values for 2024 ranging from Rs 330 to Rs 2,000 per sq.ft. The median value for these streets is Rs 550 per sq.ft, which is the same as the current guideline value for Jagedeswari Nagar.

• Jageshwari Nagar: Rs 550 per sq.ft (2024)
• Jai Jalaram Nagar: Rs 550 per sq.ft (2024)
• Jagadeeswari Nagar Extn.: Rs 440 per sq.ft (2024)
• Jansi Nagar: Rs 440 per sq.ft (2024)
• Indra Nagar: Rs 440 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Jagedeswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total charges to Rs 49,500. 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 precise calculations.

Which Sub Registrar Office covers Jagedeswari Nagar?

The Sub Registrar Office that covers Jagedeswari Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Pothur. It is the benchmark used to calculate the stamp duty and registration fees, ensuring that the government collects the appropriate taxes based on the property's value.

When buying or selling property, the guideline value is referenced to determine the official valuation. This ensures transparency in the transaction process and provides a standard measure for property valuation in the area.

Frequently asked questions

What is the current guideline value of Jagedeswari Nagar?

The current guideline value of Jagedeswari Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 237 per sq.ft in 2002 to Rs 550 per sq.ft in 2024, with various increases and decreases throughout the years.

What is the land classification for Jagedeswari Nagar?

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

Where is the Sub Registrar Office for Jagedeswari Nagar located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for property in Jagedeswari Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 5,50,000 would incur a stamp duty of Rs 38,500 at 7%.