Guideline Value for Jai Maruthi Nagar Annex

Jai Maruthi Nagar Annex guideline value

The current guideline value of Jai Maruthi Nagar Annex is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kathirvedu village under the Ambattur SRO, classified as Residential Special Type - I.

How the guideline value of Jai Maruthi Nagar Annex has changed

The guideline value for Jai Maruthi Nagar Annex has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. The latest change from 2023 to 2024 marks an increase of 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Kathirvedu

Kathirvedu has 78 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing Jai Maruthi Nagar Annex's 2024 figure above this median.

• Jai Maruthi Nagar: Rs 2,000 per sq.ft (2024)
• INTUC now Gomathiamman Nagar: Rs 1,742 per sq.ft (2024)
• I.N.T.U.C. Nagar: Rs 1,100 per sq.ft (2024)
• Jayavel Nagar: Rs 1,300 per sq.ft (2024)
• John Victor Street: Rs 1,100 per sq.ft (2024)
• J.P. Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Maruthi Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Jai Maruthi Nagar Annex?

The Jai Maruthi Nagar Annex falls under the Ambattur Sub Registrar Office located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kathirvedu, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Ensuring that the sale price is in line with the guideline value helps in smooth registration and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Jai Maruthi Nagar Annex?

The current guideline value of Jai Maruthi Nagar Annex is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and currently to Rs 2,700 per sq.ft in 2024.

What is the land classification of Jai Maruthi Nagar Annex?

Jai Maruthi Nagar Annex is classified as Residential Special Type - I.

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

The Ambattur Sub Registrar Office covers Jai Maruthi Nagar Annex, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is stamp duty calculated for properties in Jai Maruthi Nagar Annex?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.