Guideline Value for Jai Nagar Ist Street

Jai Nagar Ist Street guideline value

The current guideline value of Jai Nagar Ist Street in Koyakbedu village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the AnnaNagar SRO and is classified as Residential Class I Type - II.

How the guideline value of Jai Nagar Ist Street has changed

Over the years, the guideline value for Jai Nagar Ist Street has seen significant changes. The 2007 revision set the value at Rs 1,300 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012, marking a rise of 208%. However, by 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 4,000 per sq.ft. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 238%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koyakbedu

Koyakbedu village features a range of guideline values across its 270 streets under the AnnaNagar SRO, with 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 equal to the current value for Jai Nagar Ist Street.

• Jai Nagar Ist Main Road: Rs 4,400 per sq.ft (2024)
• Jai Nagar (Jagannatha Nagar 4th Street): Rs 3,300 per sq.ft (2024)
• Jai Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 6th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Nagar Ist 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 is calculated at 7%, which totals Rs 3,08,000, and the registration fee at 2% amounts to Rs 88,000. Together, these fees total 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jai Nagar Ist Street?

The Jai Nagar Ist 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 in property transactions in Koyakbedu. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is a legal benchmark set by the authorities, ensuring transparency in property transactions.

When properties are sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This helps ensure that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jai Nagar Ist Street?

The current guideline value of Jai Nagar Ist 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, increasing from Rs 1,300 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 238%.

What is the land classification for Jai Nagar Ist Street?

Jai Nagar Ist Street is classified as Residential Class I Type - II under the land classification system.

Where can I find the registration office for Jai Nagar Ist Street?

The registration office for Jai Nagar Ist Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Koyakbedu?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 44,00,000, the stamp duty would be calculated at 7% of that amount.