Guideline Value for Jaibalaji Nagar 3rd Street

Jaibalaji Nagar 3rd Street guideline value

The current guideline value of Jaibalaji Nagar 3rd 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 3rd Street has changed

The guideline value for Jaibalaji Nagar 3rd Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft. This value decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, representing a 49% increase. The most recent revision in 2024 has raised the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Jaibalaji Nagar 3rd Street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Nesapakkam

In Nesapakkam, there are 148 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the current guideline value for Jaibalaji Nagar 3rd Street.

• Jaibalaji Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Jaibalaji Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Jaibalaji Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Jaibalaji Nagar: 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 3rd 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. Together, the total cost for stamp duty and registration fees would be Rs 2,97,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jaibalaji Nagar 3rd Street?

Jaibalaji Nagar 3rd Street falls under the jurisdiction of 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 crucial factor in the registration process when buying or selling property in Nesapakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer must pay stamp duty and registration fees calculated on the guideline value or the sale price, whichever is higher. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Jaibalaji Nagar 3rd Street?

The current guideline value of Jaibalaji Nagar 3rd 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, a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing a 49% increase from 2017 to 2023.

What is the land classification for Jaibalaji Nagar 3rd Street?

Jaibalaji Nagar 3rd Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Jaibalaji Nagar 3rd Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 2,97,000.

Which office handles registrations for Jaibalaji Nagar 3rd Street?

The Virugambakkam Sub Registrar Office handles registrations for Jaibalaji Nagar 3rd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.