Guideline Value for Jai Nagar 16th Street

Jai Nagar 16th Street guideline value

The current guideline value of Jai Nagar 16th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village, under the AnnaNagar SRO, and is classified as Residential Class I Type - II.

How the guideline value of Jai Nagar 16th Street has changed

The guideline value of Jai Nagar 16th Street has seen significant changes over the years. The 2007 revision set the value at Rs 1,300 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in 2017. The value then rose sharply to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, followed by a further increase of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 238%.

Guideline values in Koyakbedu

In Koyakbedu, there are 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is the same as the 2024 figure for Jai Nagar 16th Street.

• Jai Nagar 15th Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 17th Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 14th Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 18th Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 13th Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 19th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Nagar 16th Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jai Nagar 16th Street?

The AnnaNagar Sub Registrar Office covers Jai Nagar 16th Street. The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

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

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. It is important to ensure that the higher value is used for calculating the stamp duty and registration fees to avoid any legal complications.

Frequently asked questions

What is the current guideline value of Jai Nagar 16th Street?

The current guideline value of Jai Nagar 16th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,300 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 238%.

What are the other streets in Koyakbedu with the same guideline value?

Other streets in Koyakbedu with the same guideline value of Rs 4,400 per sq.ft include Jai Nagar 15th, 17th, 14th, 18th, 13th, and 19th Streets.

How is stamp duty calculated for properties in Jai Nagar 16th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 3,08,000.

Where is the AnnaNagar Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.