Guideline Value for Jai Nagar

Jai Nagar guideline value

The current guideline value of Jai Nagar, located in Noombal village under the Kunrathur SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I 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 2003 revision recorded a guideline value of Rs 95 per sq.ft, which increased dramatically to Rs 1,072 per sq.ft in 2017, marking a rise of 1028%. Following this, the value rose to Rs 1,600 per sq.ft in 2023, representing a 49% increase. The latest revision in 2024 has set the value at Rs 1,760 per sq.ft, reflecting a 10% increase from the previous year. It is important to note that the register has no figure for Jai Nagar in the years 2002, 2007, and 2012.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Jai Nagar's 2024 figure below this median.

• Jayalakshmi Nagar: Rs 1,760 per sq.ft (2024)
• Jay Nagar: Rs 1,760 per sq.ft (2024)
• India Cement Paniyalar Kudiyiruppu: Rs 2,860 per sq.ft (2024)
• India Cement Colony: Rs 2,860 per sq.ft (2024)
• Harihand Amara: Rs 2,090 per sq.ft (2024)
• Green Scape: Rs 4,290 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 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, resulting in a total of Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jai Nagar?

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

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

The guideline value is a crucial factor when registering property transactions in Noombal. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When you buy or sell property, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and fairness in property dealings, as it reflects the official valuation of the property based on its location and classification.

Frequently asked questions

What is the current guideline value for Jai Nagar?

The current guideline value for Jai Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 95 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, with significant increases in 2017 and 2023 as well.

What is the land classification for Jai Nagar?

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

Where can I find the Sub Registrar Office for Jai Nagar?

The Sub Registrar Office for Jai Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details by following the provided link.

How is stamp duty calculated for properties in Jai Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 17,60,000 would incur a stamp duty of Rs 1,23,200 at 7%.