Guideline Value for Jaihind Nagar 5th Street

Jaihind Nagar 5th Street guideline value

The current guideline value for Jaihind Nagar 5th Street is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Old Gummidipoondi village, under the Gummidipoondi SRO, and is classified as Residential Class II Type - I.

How the guideline value of Jaihind Nagar 5th Street has changed

The guideline value for Jaihind Nagar 5th Street has seen several revisions over the years. In the 2012 revision, the rate was Rs 600 per sq.ft, which decreased to Rs 402 per sq.ft in the 2017 revision. This was a decline of 33%. Following this, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 660 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Old Gummidipoondi

In Old Gummidipoondi, there are 90 streets under the Gummidipoondi SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,210 per sq.ft. The median value is Rs 660 per sq.ft, which is equal to the guideline value of Jaihind Nagar 5th Street.

• Jaihind Nagar 4th Street: Rs 660 per sq.ft (2024)
• Jaihind Nagar 6th Street: Rs 660 per sq.ft (2024)
• Jaihind Nagar 3rd Street: Rs 660 per sq.ft (2024)
• Jai Hind Nagar Ist Street Ward No.13 Door No.1-8: Rs 660 per sq.ft (2024)
• Jai Hind Nagar 2nd Street Ward No.13 Door No.1-25: Rs 660 per sq.ft (2024)
• Jaihind Nagar Main Road: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Jaihind Nagar 5th Street

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jaihind Nagar 5th Street?

The Sub Registrar Office that covers Jaihind Nagar 5th Street is the Gummidipoondi Sub Registrar Office, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Old Gummidipoondi. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when a property is bought or sold. This ensures that both buyers and sellers are aware of the minimum value set by the government for the property in question.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This helps to maintain transparency in property transactions and ensures that all parties are treated fairly according to the established regulations.

Frequently asked questions

What is the current guideline value for Jaihind Nagar 5th Street?

The current guideline value for Jaihind Nagar 5th Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Jaihind Nagar 5th Street?

Jaihind Nagar 5th Street is classified as Residential Class II Type - I.

Where is the Gummidipoondi Sub Registrar Office located?

The Gummidipoondi Sub Registrar Office is located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone.

How is the stamp duty calculated for properties in Jaihind Nagar 5th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at 7%.