Guideline Value for Jaibalaji Nagar

Jaibalaji Nagar guideline value

The current guideline value of Jaibalaji Nagar, located in Nesapakkam village under the Virugambakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II 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. Starting from the 2002 revision, the guideline value was Rs 110 per sq.ft. It increased to Rs 121 per sq.ft in 2003, marking a 10% rise. In 2007, the value jumped significantly to Rs 325 per sq.ft, reflecting a 169% increase. The 2012 revision saw a decrease to Rs 3,000 per sq.ft, which was a 33% drop from the previous figure. By 2017, the value rebounded to Rs 2,010 per sq.ft, which was a 49% increase from 2012. The 2023 revision set the value at Rs 3,000 per sq.ft, and the latest revision in 2024 raised it to Rs 3,300 per sq.ft, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2900%. There are no figures available for the revisions in years not mentioned in the register for this street.

Guideline values in Nesapakkam

Nesapakkam village has a range of guideline values across its 148 streets under the Virugambakkam SRO, with figures for 2024 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 equal to the current value of Jaibalaji Nagar.

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

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. 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?

The Sub Registrar Office that covers Jaibalaji Nagar 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 plays a crucial role during the registration of property transactions in Nesapakkam. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay when acquiring property.

When a property is sold, the guideline value is considered alongside the sale price. The higher of the two is used to determine the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jaibalaji Nagar?

The current guideline value of Jaibalaji Nagar 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 110 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting a significant increase of 2900% over this period.

What is the range of guideline values in Nesapakkam?

The guideline values in Nesapakkam range from Rs 2,200 to Rs 7,150 per sq.ft, with a median value of Rs 3,300 per sq.ft.

How is stamp duty calculated in Jaibalaji Nagar?

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

Where is the Sub Registrar Office for Jaibalaji Nagar located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers Jaibalaji Nagar.