Guideline Value for Jaibalaji Nagar 180-250 Extension

Jaibalaji Nagar 180-250 Extension guideline value

The current guideline value of Jaibalaji Nagar 180-250 Extension is Rs 4,100 per sq.ft. This area is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Jaibalaji Nagar 180-250 Extension has changed

Over the years, the guideline value for Jaibalaji Nagar has seen several revisions. In 2007, the guideline value was Rs 620 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012. However, this value decreased to Rs 2,512 per sq.ft in 2017. The subsequent revision in 2023 marked an increase to Rs 3,750 per sq.ft, and the latest revision in 2024 set the guideline value at Rs 4,100 per sq.ft. The register does not have figures for the years 2002 and 2003 for this street.

When examining the changes, from 2007 to 2012, there was a substantial increase of 505%. However, from 2012 to 2017, the value decreased by 33%. The guideline value then surged by 49% from 2017 to 2023, and finally, from 2023 to 2024, it increased by 9%. Overall, from 2007 to 2024, the guideline value has risen by 561%.

Guideline values in Kodambakkam

In the village of Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Jaibalaji Nagar's 2024 figure below this median.

• Jaibalaji Nagar: Rs 4,100 per sq.ft (2024)
• Jaishankar Street: Rs 5,500 per sq.ft (2024)
• Jakir Hussain 2nd Street(S.M.BLOCK): Rs 3,300 per sq.ft (2024)
• Jakir Hussain Street Ch-78: Rs 3,300 per sq.ft (2024)
• Jakir Usan Street (S.M.BLOCK): Rs 3,300 per sq.ft (2024)
• Jafferkhanpettai Road Block 84: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Jaibalaji Nagar 180-250 Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total fees to Rs 3,69,000. 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 Jaibalaji Nagar 180-250 Extension?

The Sub Registrar Office that covers Jaibalaji Nagar 180-250 Extension is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it influences the financial obligations involved in the transaction. Buyers should ensure that the sale price is at least equal to or greater than the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Jaibalaji Nagar 180-250 Extension?

The current guideline value of Jaibalaji Nagar 180-250 Extension is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 620 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting an overall increase of 561% over the years.

What is the stamp duty rate for properties in Jaibalaji Nagar?

The stamp duty rate for properties in Jaibalaji Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Jaibalaji Nagar's 2024 figure being below this median.