Guideline Value for Jai Nagar Extension

Jai Nagar Extension guideline value

The current guideline value of Jai Nagar Extension, Kunrathour-B village, under the Kunrathur SRO is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is classified as Mixed Special Type - II.

How the guideline value of Jai Nagar Extension has changed

The guideline value for Jai Nagar Extension has undergone several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 1,900 per sq.ft, which increased by 10% to Rs 2,090 per sq.ft in the 2024 revision.

This change reflects a significant increase in the guideline value, moving from Rs 1,900 per sq.ft in 2023 to Rs 2,090 per sq.ft in 2024. The latest figure indicates a growing recognition of the value of properties in this area.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 5,130 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, placing Jai Nagar Extension's current figure above this median.

• Jai Nagar: Rs 1,540 per sq.ft (2024)
• Jaganathapuram Sekkizhar Nagar 2nd Street: Rs 1,430 per sq.ft (2024)
• Jaganathapuram Sekkizhar Nagar: Rs 1,430 per sq.ft (2024)
• Jaganathapuram Bhavani Amman Koil Street: Rs 1,430 per sq.ft (2024)
• Jaganathapuram 3rd Street: Rs 1,430 per sq.ft (2024)
• Jaganathapuram 2nd Street: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jai Nagar Extension?

The Sub Registrar Office that covers Jai Nagar Extension is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value is a critical factor in the registration process for property transactions in Kunrathour-B. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of a property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Jai Nagar Extension?

The current guideline value for Jai Nagar Extension is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 10% from Rs 1,900 per sq.ft in 2023 to Rs 2,090 per sq.ft in 2024.

What is the land classification for Jai Nagar Extension?

Jai Nagar Extension is classified as Mixed Special Type - II, according to the guideline value register.

What are the stamp duty and registration fees for a property in Jai Nagar Extension?

For a property valued at Rs 20,90,000, the stamp duty would be Rs 1,46,300, and the registration fee would be Rs 41,800, totaling Rs 1,88,100.

Which office handles property registration for Jai Nagar Extension?

The Kunrathur Sub Registrar Office handles property registration for Jai Nagar Extension, located at No.59, Road Street, Kundrathur, Chennai -600 069.