Guideline Value for Jain College

Jain College guideline value

The current guideline value for Jain College in Nanganallur village, under the Alandur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Jain College has changed

The guideline value for Jain College has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 140 per sq.ft. This value increased to Rs 159 per sq.ft in 2003, marking a 14% rise. The subsequent revision in 2007 saw a significant jump to Rs 700 per sq.ft, an increase of 471%. In 2012, the value remained at Rs 4,000 per sq.ft, but this represented a decrease of 33% from the previous revision.

From 2012, the guideline value rose again to Rs 2,680 per sq.ft in 2017, reflecting a 49% increase. The next revision in 2023 set the value at Rs 4,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 4,400 per sq.ft, a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 3043%.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO, with guideline values for 2024 ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Jain College's 2024 figure above that median.

• Jayaram Naidu Street (Jayaram Street): Rs 2,800 per sq.ft (2024)
• John Desikan Street: Rs 3,300 per sq.ft (2024)
• Joseph 1st Street: Rs 4,400 per sq.ft (2024)
• Joseph 2nd Street: Rs 4,400 per sq.ft (2024)
• Joseph Street First Street: Rs 4,400 per sq.ft (2024)
• Gurunathan Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Jain College

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty, charged at 7%, would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees would total Rs 3,96,000. 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 further calculations.

Which Sub Registrar Office covers Jain College?

The Jain College area falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Nanganallur, the guideline value plays a crucial role in determining the stamp duty and registration fees applicable. The guideline value is set by the government and is used as a benchmark for calculating these costs during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value in order to understand the financial implications of their transactions. The guideline value ensures transparency and helps in maintaining a standardized process for property registration.

Frequently asked questions

What is the current guideline value for Jain College?

The current guideline value for Jain College is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 140 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 3043%.

What are the other streets in Nanganallur with their guideline values?

Other streets in Nanganallur include Jayaram Naidu Street at Rs 2,800 per sq.ft, John Desikan Street at Rs 3,300 per sq.ft, and several others, with values ranging up to Rs 4,400 per sq.ft.

How is stamp duty calculated for properties in Jain College?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a plot valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.

Where can I find the Sub Registrar Office for Jain College?

The Sub Registrar Office covering Jain College is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.