Guideline Value for Jai Nagar

Jai Nagar guideline value

The current guideline value of Jai Nagar, located in Valasaravakkam village under the Virugambakkam SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Jai Nagar has changed

The guideline value for Jai Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained unchanged in the 2023 revision. However, with the 2024 revision, the guideline value increased to Rs 3,850 per sq.ft, marking a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 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 the same as the current value for Jai Nagar.

• Jai Nagar 10th Street: Rs 3,850 per sq.ft (2024)
• Jai Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Jai Garden (Arcot Road): Rs 6,600 per sq.ft (2024)
• Jai Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Jai Nagar 3rd 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost would be Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jai Nagar?

The Jai Nagar area is covered by 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 plays a crucial role in property transactions in Valasaravakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the transaction is recorded accurately and legally.

When selling property, the guideline value helps establish a baseline for pricing. It provides both buyers and sellers with a reference point, ensuring transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Jai Nagar?

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

How has the guideline value changed over the years?

The guideline value for Jai Nagar has changed from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase over this period.

What are the stamp duty and registration fees in Jai Nagar?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles property registrations in Jai Nagar?

The Virugambakkam Sub Registrar Office handles property registrations in Jai Nagar, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the other streets in Valasaravakkam with similar guideline values?

Other streets in Valasaravakkam with a guideline value of Rs 3,850 per sq.ft include Jai Nagar 1st Street, Jai Nagar 2nd Street, Jai Nagar 3rd Street, and Jai Nagar 4th Street.