Guideline Value for Jai Nagar

Jai Nagar guideline value

The current guideline value of Jai Nagar, located in Kunrathour-B village under the Kunrathur SRO, is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Jai Nagar has changed

The guideline value for Jai Nagar has seen significant changes over the years. The 2017 revision set the value at Rs 938 per sq.ft, which increased to Rs 1,400 per sq.ft in the 2023 revision, marking a 49% rise. The latest 2024 revision has further increased the guideline value to Rs 1,540 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

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, which is equal to the current guideline value of Jai Nagar.

• Jai Nagar Extension: Rs 2,090 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total cost together to Rs 1,38,600. 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?

The Jai Nagar area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kunrathour-B. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the overall cost of the transaction. Proper understanding of these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Jai Nagar?

The current guideline value of Jai Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From the 2017 revision to the 2024 revision, the guideline value has increased by 64%, from Rs 938 per sq.ft to Rs 1,540 per sq.ft.

What is the land classification for Jai Nagar?

The land classification for Jai Nagar is Residential Special Type - I, indicating its suitability for residential purposes.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Jai Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 15,40,000 would incur a stamp duty of Rs 1,07,800 at a rate of 7%.