Guideline Value for Jaibalaji Nagar Main Road

Jaibalaji Nagar Main Road guideline value

The current guideline value of Jaibalaji Nagar Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Nesapakkam village under the Virugambakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Jaibalaji Nagar Main Road has changed

The guideline value for Jaibalaji Nagar Main Road has experienced several revisions over the years. The earliest recorded figure is from 2012, which was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. In 2023, the value increased to Rs 3,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,300 per sq.ft. Notably, there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Examining the changes, from 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The value then saw a 10% rise from 2023 to 2024, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Nesapakkam

Nesapakkam village 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 value for these streets is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Jaibalaji Nagar Main Road.

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

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, bringing the total cost to Rs 2,97,000. Please 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 Main Road?

The Jaibalaji Nagar Main Road 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 Nesapakkam

The guideline value is an important factor in the registration process when buying or selling property in Nesapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration fees reflect the property's value based on official assessments.

Frequently asked questions

What is the current guideline value of Jaibalaji Nagar Main Road?

The current guideline value of Jaibalaji Nagar Main Road 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 back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the median guideline value in Nesapakkam?

The median guideline value for streets in Nesapakkam is Rs 3,300 per sq.ft, which is the same as the current value for Jaibalaji Nagar Main Road.

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

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

Where is the Sub Registrar Office for Jaibalaji Nagar Main Road located?

The Sub Registrar Office covering Jaibalaji Nagar Main Road is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.