Guideline Value for Jai Balaji Nagar Extension

Jai Balaji Nagar Extension guideline value

The current guideline value of Jai Balaji Nagar Extension is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Selavoyal village under the Madhavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Jai Balaji Nagar Extension has changed

The guideline value for Jai Balaji Nagar Extension has undergone several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This increased to Rs 1,206 per sq.ft in 2017, marking a decrease of 20%. However, from 2017 to 2023, the value rose significantly to Rs 1,800 per sq.ft, reflecting an increase of 49%. The latest revision in 2024 has further increased the guideline value to Rs 1,900 per sq.ft, which is a 6% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 27%.

Guideline values in Selavoyal

In Selavoyal, there are a total of 170 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Jai Balaji Nagar Extension is below this median.

• Jai Balaji Nagar 5th Street: Rs 1,900 per sq.ft (2024)
• Jai Balaji Nagar 4th Street: Rs 1,900 per sq.ft (2024)
• Jai Balaji Nagar 3rd Street: Rs 1,900 per sq.ft (2024)
• Jai Balaji Nagar 2nd Street: Rs 1,900 per sq.ft (2024)
• Jai Balaji Nagar 1st Street: Rs 1,900 per sq.ft (2024)
• Gramaniyar Thottam: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Balaji Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. 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 Jai Balaji Nagar Extension?

The Sub Registrar Office that covers Jai Balaji Nagar Extension is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Selavoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted transparently.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are calculated based on the higher of the guideline value or the sale price, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Jai Balaji Nagar Extension?

The current guideline value of Jai Balaji Nagar Extension is Rs 1,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 1,500 per sq.ft to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 27% over this period.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 19,00,000, the total fees would amount to Rs 1,71,000.

Which office handles property registrations in Jai Balaji Nagar Extension?

The Madhavaram Sub Registrar Office is responsible for handling property registrations in Jai Balaji Nagar Extension, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is revised periodically based on various factors. It serves as a reference point for property transactions within the area.