Guideline Value for Jain Koil

Jain Koil guideline value

The current guideline value of Jain Koil is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Ayanavaram village and falls under the AnnaNagar SRO with a land classification of Residential Class II Type - II.

How the guideline value of Jain Koil has changed

The guideline value of Jain Koil has seen several revisions over the years. In 2002, the guideline value was Rs 670 per sq.ft. This increased to Rs 1,200 per sq.ft in 2007, marking a significant rise of 79%. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a 150% increase. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 saw the value rise to Rs 3,000 per sq.ft, followed by another increase to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for this street in 2003.

Overall, from 2002 to 2024, the guideline value has increased by 393%. The changes in the guideline value reflect the evolving dynamics of the area, with significant fluctuations observed between certain years.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO, with guideline values in 2024 ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, indicating that Jain Koil's 2024 figure is below this median.

• Jambulingam Main Road, Chennai 82: Rs 5,500 per sq.ft (2024)
• Jawahar Nagar 2nd cross Street, Chennai 82: Rs 5,500 per sq.ft (2024)
• Jawahar Nagar, Chennai 82: Rs 5,500 per sq.ft (2024)
• Jawahar Nagar Ist cross Street, Chennai 82: Rs 5,500 per sq.ft (2024)
• J- Block, (East)2nd Street: Rs 11,000 per sq.ft (2024)
• Guruvappa MaistryStreet: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Jain Koil

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, totaling Rs 2,97,000. It is important to 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 further assistance.

Which Sub Registrar Office covers Jain Koil?

The Jain Koil area is covered by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayanavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the guideline value is compared with the sale price. The higher of the two figures is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jain Koil?

The current guideline value of Jain Koil 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 significantly, from Rs 670 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 393% over this period.

What are the stamp duty and registration fees for property in Jain Koil?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Jain Koil?

The AnnaNagar Sub Registrar Office covers Jain Koil, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Jain Koil?

Jain Koil falls under the land classification of Residential Class II Type - II, indicating its suitability for residential purposes.