Guideline Value for Jai Nagar 7th Street

Jai Nagar 7th Street guideline value

The current guideline value of Jai Nagar 7th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, which falls under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Jai Nagar 7th Street has changed

The guideline value for Jai Nagar 7th Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 429 per sq.ft. This increased to Rs 467 per sq.ft in 2003, marking a change of +9%. The value saw a significant rise to Rs 650 per sq.ft in 2007, which was an increase of +39%. The next revision in 2012 maintained the value at Rs 3,500 per sq.ft, showing no change from the previous figure. In 2023, the guideline value remained at Rs 3,500 per sq.ft, but in 2024, it increased to Rs 3,850 per sq.ft, reflecting a rise of +10%.

It is important to note that there is no figure for Jai Nagar 7th Street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by +797%, showcasing a substantial change over the years.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is equal to the guideline value of Jai Nagar 7th Street.

• Jai Nagar 6th Street: Rs 3,850 per sq.ft (2024)
• Jai Nagar 8th Street: Rs 3,850 per sq.ft (2024)
• Jai Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Jai Nagar 9th Street: Rs 3,850 per sq.ft (2024)
• Jai Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Jai Nagar 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Nagar 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. 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 detailed calculations.

Which Sub Registrar Office covers Jai Nagar 7th Street?

The Sub Registrar Office that covers Jai Nagar 7th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Valasaravakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps in ensuring that the property transactions are compliant with local regulations and that the appropriate fees are paid. It is advisable to check the latest guideline values before proceeding with any property transactions.

Frequently asked questions

What is the current guideline value of Jai Nagar 7th Street?

The current guideline value of Jai Nagar 7th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 429 per sq.ft to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of +797%.

Is there a guideline value for Jai Nagar 7th Street in 2017?

No, the register has no figure for Jai Nagar 7th Street in the 2017 revision.

What is the registration fee for property in Jai Nagar 7th Street?

The registration fee is calculated at 2% of the guideline value or sale price, whichever is higher. For a property valued at Rs 38,50,000, the registration fee would be Rs 77,000.

Where can I find the Sub Registrar Office for Jai Nagar 7th Street?

The Virugambakkam Sub Registrar Office covers Jai Nagar 7th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.