Guideline Value for Jaibalaji Nagar 2nd Street

Jaibalaji Nagar 2nd Street guideline value

The current guideline value of Jaibalaji Nagar 2nd 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 2nd Street has changed

The guideline value for Jaibalaji Nagar 2nd Street has seen several revisions over the years. In the 2012 revision, the value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and currently stands at Rs 3,300 per sq.ft as per the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows an increase of 10% in the guideline value.

Guideline values in Nesapakkam

Nesapakkam has a total of 148 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value for Jaibalaji Nagar 2nd Street.

• Jaibalaji Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Jaibalaji Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Jaibalaji Nagar: 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost together 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jaibalaji Nagar 2nd Street?

The Sub Registrar Office that covers Jaibalaji Nagar 2nd 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nesapakkam. It is used to determine the stamp duty and registration fees payable at the time of registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for ensuring compliance with local regulations and for accurately estimating the costs involved in property transactions. It is advisable to check the latest figures to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Jaibalaji Nagar 2nd Street?

The current guideline value of Jaibalaji Nagar 2nd 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 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and is currently Rs 3,300 per sq.ft in 2024.

What is the land classification for Jaibalaji Nagar 2nd Street?

Jaibalaji Nagar 2nd Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Jaibalaji Nagar 2nd Street?

The Sub Registrar Office for Jaibalaji Nagar 2nd 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 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000.