Guideline Value for Jai Nagar 3rd Street

Jai Nagar 3rd Street guideline value

The current guideline value of Jai Nagar 3rd 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 3rd Street has changed

The guideline value for Jai Nagar 3rd Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,300 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 208%. However, the value then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The guideline value rose again to Rs 4,000 per sq.ft in 2023, and the latest revision in 2024 has increased it to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 238%. It is important to note that the register has no figures for Jai Nagar 3rd Street for the years 2002 and 2003.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with the 2024 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 3rd Street.

• Jai Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Jai Nagar 5th 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)

Stamp duty and registration fee for property in Jai Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jai Nagar 3rd Street?

The Sub Registrar Office that covers Jai Nagar 3rd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property registration in Koyakbedu. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased. When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for buyers and sellers alike, as it ensures compliance with local regulations and helps avoid disputes during the registration process. It is advisable to check the latest guideline values before engaging in any property transactions.

Frequently asked questions

What is the current guideline value of Jai Nagar 3rd Street?

The current guideline value of Jai Nagar 3rd 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, showing an overall increase of 238% over the years.

What is the land classification for Jai Nagar 3rd Street?

Jai Nagar 3rd Street falls under the Residential Class I Type - II land classification.

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 Nolambur Eb Office.

How is stamp duty calculated for properties in Jai Nagar 3rd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 4,400 per sq.ft would incur a stamp duty of Rs 3,08,000.