Guideline Value for Jai Nagar 2nd Main Road,

Jai Nagar 2nd Main Road, guideline value

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

How the guideline value of Jai Nagar 2nd Main Road, has changed

The guideline value for Jai Nagar 2nd Main Road has seen several revisions over the years. In 2007, the value was Rs 1,545 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, it then decreased to Rs 2,680 per sq.ft in 2017. The value rose again to Rs 4,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the increase was 49%, while the jump from 2007 to 2012 was a remarkable 159%. Overall, the guideline value has increased by 185% from 2007 to 2024. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with a 2024 guideline value range from Rs 2,200 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is the same as the current value for Jai Nagar 2nd Main Road.

• Jai Nagar 23rd Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 22nd Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 21st Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 20th Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 3rd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Nagar 2nd Main Road,

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 fees to Rs 3,96,000. It is important to note that the 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 more details.

Which Sub Registrar Office covers Jai Nagar 2nd Main Road,?

The Jai Nagar 2nd Main Road is covered by 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 information.

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

The guideline value is crucial during property transactions in Koyakbedu, as it determines the basis for calculating stamp duty and registration fees. When a property is bought or sold, the guideline value is used to ensure that the correct fees are paid to the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Accurate knowledge of these values helps in avoiding any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Jai Nagar 2nd Main Road 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 1,545 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 185% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Which Sub Registrar Office covers Jai Nagar 2nd Main Road?

The AnnaNagar Sub Registrar Office covers Jai Nagar 2nd Main Road, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Jai Nagar 2nd Main Road?

The land classification of Jai Nagar 2nd Main Road is Residential Class I Type - II.