Guideline Value for Jai Nagar 5th Street

Jai Nagar 5th Street guideline value

The current guideline value of Jai Nagar 5th 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 5th Street has changed

The guideline value for Jai Nagar 5th 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, it decreased to Rs 2,680 per sq.ft in 2017, before rising to Rs 4,000 per sq.ft again in 2023. The latest revision in 2024 has set the guideline value at Rs 4,400 per sq.ft.

Between these revisions, notable changes include a 208% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 238%. The register has no 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 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 also the current value for Jai Nagar 5th Street.

• Jai Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 8th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value is 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. Together, the total cost for these fees would be 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 more information.

Which Sub Registrar Office covers Jai Nagar 5th Street?

The Sub Registrar Office that covers Jai Nagar 5th Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 during property transactions in Koyakbedu. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

When selling property, the guideline value serves as a benchmark for both buyers and sellers, providing a reference point for negotiations. It is essential for both parties to be aware of the current guideline value to ensure a fair and legal transaction.

Frequently asked questions

What is the current guideline value of Jai Nagar 5th Street?

The current guideline value of Jai Nagar 5th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

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

What are the stamp duty and registration fees for property in Jai Nagar 5th 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 Sub Registrar Office covers this area?

The AnnaNagar Sub Registrar Office covers Jai Nagar 5th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Jai Nagar 5th Street?

Jai Nagar 5th Street is classified as Residential Class I Type - II, indicating its suitability for residential development.