Guideline Value for Jaibalaji Nagar

Jaibalaji Nagar guideline value

The current guideline value of Jaibalaji Nagar, located in Kodambakkam village under the Ashok Nagar SRO, is Rs 4,100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

How the guideline value of Jaibalaji Nagar has changed

The guideline value for Jaibalaji Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 620 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012, marking a rise of 505%. However, from 2012 to 2017, the value decreased to Rs 2,512 per sq.ft, reflecting a drop of 33%. The value then rose to Rs 3,750 per sq.ft in 2023, a 49% increase, and has now reached Rs 4,100 per sq.ft in the 2024 revision, which is a 9% increase.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 561%.

Guideline values in Kodambakkam

Kodambakkam village has 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 value for these streets is Rs 4,900 per sq.ft, placing Jaibalaji Nagar's 2024 figure below this median.

• Jaibalaji Nagar 180-250 Extension: 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

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 be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total cost for these 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?

The Sub Registrar Office that covers Jaibalaji Nagar 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

When buying or selling property in Kodambakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is the minimum value set by the government for property transactions, ensuring that the transaction is registered at a fair value.

During the registration process, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jaibalaji Nagar?

The current guideline value of Jaibalaji Nagar 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 increased from Rs 620 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking an overall increase of 561% over the years.

What is the land classification of Jaibalaji Nagar?

Jaibalaji Nagar falls under the Residential Class IV Type - I land classification.

Where is the Sub Registrar Office for Jaibalaji Nagar located?

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

How is stamp duty calculated in Jaibalaji Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.