Guideline Value for Jaibalaji Nagar 1st Street

Jaibalaji Nagar 1st Street guideline value

The current guideline value of Jaibalaji Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Jaibalaji Nagar 1st Street has changed

Over the years, the guideline value for Jaibalaji Nagar 1st Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision. However, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the latest 2024 revision further raised it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is +10%. The changes between specific revisions include a significant increase of 49% from 2017 to 2023 and a decrease of 33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nesapakkam

Nesapakkam has a total of 148 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for Jaibalaji Nagar 1st Street.

• Jaibalaji Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Jaibalaji Nagar: Rs 3,300 per sq.ft (2024)
• Jaibalaji Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Jaibalaji Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Jagadambal Lane: Rs 2,750 per sq.ft (2024)
• Janani Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Jaibalaji Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 1st Street?

The Sub Registrar Office that covers Jaibalaji Nagar 1st Street 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 Nesapakkam

The guideline value is a critical factor when buying or selling property in Nesapakkam, as it determines the amount of stamp duty and registration fees that must be paid. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is recorded accurately.

When registering a property, it is essential to refer to the latest guideline values to ensure compliance with local regulations. This helps in avoiding any potential disputes or issues during the registration process.

Frequently asked questions

What is the current guideline value of Jaibalaji Nagar 1st Street?

The current guideline value of Jaibalaji Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, which is a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the classification of land in Jaibalaji Nagar 1st Street?

Jaibalaji Nagar 1st Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Jaibalaji Nagar 1st Street?

The Sub Registrar Office for Jaibalaji Nagar 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Jaibalaji Nagar 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.