Guideline Value for Jai Nagar Main Road

Jai Nagar Main Road guideline value

The current guideline value of Jai Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO and is classified as Residential Class II Type - I.

How the guideline value of Jai Nagar Main Road has changed

The guideline value for Jai Nagar Main Road has undergone several revisions over the years. In 2012, the value was set at Rs 3,500 per sq.ft. This figure was revised in 2017 to Rs 2,345 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,850 per sq.ft, which is equal to the current value of Jai Nagar Main Road.

• Jai Nagar 9th Street: Rs 3,850 per sq.ft (2024)
• Jai Nagar 8th Street: Rs 3,850 per sq.ft (2024)
• Jai Nagar 7th Street: Rs 3,850 per sq.ft (2024)
• Jai Nagar 6th Street: Rs 3,850 per sq.ft (2024)
• Jai Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Jai Nagar 4th Street: Rs 3,850 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. Duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Jai Nagar Main Road?

The Sub Registrar Office that covers Jai Nagar Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value ensures that the transaction is registered at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Jai Nagar Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification for Jai Nagar Main Road?

Jai Nagar Main Road is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value.

Where is the Sub Registrar Office for Jai Nagar Main Road located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.