Guideline Value for Jai Hind Nagar

Jai Hind Nagar guideline value

The current guideline value of Jai Hind Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Sokandi village and falls under the Sunguvarchattram SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Jai Hind Nagar has changed

The guideline value for Jai Hind Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 200 per sq.ft, which remains unchanged from the 2023 revision, also at Rs 200 per sq.ft. Prior to this, the 2017 revision recorded a guideline value of Rs 134 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

In terms of percentage changes, there has been a 49% increase in the guideline value from 2017 to 2023, and overall, the value has increased by 49% from 2017 to 2024.

Guideline values in Sokandi

In Sokandi village, there are 35 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 181 to Rs 1,000 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing Jai Hind Nagar's 2024 figure below this median.

• Jei Bharath Nagar: Rs 250 per sq.ft (2024)
• Gandni Puram: Rs 275 per sq.ft (2024)
• Kuzhandai Easu Nagar: Rs 275 per sq.ft (2024)
• Dhanraj Nagar: Rs 500 per sq.ft (2024)
• Mariamman Kovil Street: Rs 200 per sq.ft (2024)
• MathaKovil Street: Rs 450 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Hind Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, totaling Rs 14,000, while the registration fee is 2%, amounting to Rs 4,000. The combined cost for these fees is Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jai Hind Nagar?

The Sub Registrar Office that covers Jai Hind Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sokandi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jai Hind Nagar?

The current guideline value of Jai Hind Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2023 to 2024, while it increased from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023, marking a 49% increase overall from 2017 to 2024.

What is the median guideline value for streets in Sokandi?

The median guideline value for streets in Sokandi is Rs 300 per sq.ft, with Jai Hind Nagar's value being below this median at Rs 200 per sq.ft.

What fees are associated with property transactions in Jai Hind Nagar?

When buying property in Jai Hind Nagar, the stamp duty is 7% and the registration fee is 2%. For a property valued at Rs 2,00,000, the total fees would be Rs 18,000.

Where can I find the Sub Registrar Office for Jai Hind Nagar?

The Sub Registrar Office for Jai Hind Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find more details online.