Guideline Value for Jai Nagar 2nd Street

Jai Nagar 2nd Street guideline value

The current guideline value of Jai Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Jai Nagar 2nd Street has changed

The guideline value for Jai Nagar 2nd Street has seen several revisions over the years. In 2007, the value was Rs 1,300 per sq.ft, which increased significantly 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 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 figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. Following this, the jump from 2023 to 2024 reflects a 10% increase. The overall change from 2007 to 2024 shows a substantial increase of 238% in the guideline value per sq.ft.

Guideline values in Koyakbedu

Koyakbedu village has a total of 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 for these streets is Rs 4,400 per sq.ft, which matches the current value for Jai Nagar 2nd Street.

• Jai Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Jai Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 23rd Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 22nd Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 21st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total 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, bringing the total to Rs 3,96,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Jai Nagar 2nd Street?

The Jai Nagar 2nd Street falls under the jurisdiction of the AnnaNagar Sub Registrar Office, 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 plays a crucial role when buying or selling property in Koyakbedu. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value as determined by the Registration Department. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Jai Nagar 2nd Street?

The current guideline value of Jai Nagar 2nd 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 from Rs 1,300 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 238% over the years.

What are the stamp duty and registration fees for property in Jai Nagar 2nd Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for Jai Nagar 2nd Street?

The AnnaNagar Sub Registrar Office is responsible for registrations in Jai Nagar 2nd Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Jai Nagar 2nd Street?

The land classification for Jai Nagar 2nd Street is Residential Class I Type - II.