Guideline Value for Jain Nagar (Kamarajar Street)

Jain Nagar (Kamarajar Street) guideline value

The current guideline value of Jain Nagar (Kamarajar Street) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village, under the Ambattur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Jain Nagar (Kamarajar Street) has changed

The guideline value for Jain Nagar (Kamarajar Street) has seen several revisions over the years. The 2007 revision recorded a value of Rs 400 per sq.ft, which increased to Rs 800 per sq.ft in the 2012 revision, marking a 100% increase. However, the 2017 revision saw a decrease to Rs 536 per sq.ft, a drop of 33%. The value then increased significantly to Rs 800 per sq.ft in the 2023 revision, followed by a further increase to Rs 880 per sq.ft in the 2024 revision, reflecting a 10% rise.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,300 per sq.ft. Jain Nagar (Kamarajar Street) is below this median with its current guideline value of Rs 880 per sq.ft.

• Jain Nagar (Jayalalitha street): Rs 880 per sq.ft (2024)
• Jain Nagar Prathana Salai: Rs 880 per sq.ft (2024)
• Jain Nagar: Rs 880 per sq.ft (2024)
• Jamuna Nagar: Rs 2,700 per sq.ft (2024)
• Janakiraman street (jayaram nagar): Rs 1,100 per sq.ft (2024)
• Jagadeesan Street(Bhavani nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Jain Nagar (Kamarajar Street)

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. 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 Jain Nagar (Kamarajar Street)?

The Sub Registrar Office that covers Jain Nagar (Kamarajar Street) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial component when registering property transactions in Ayappakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, it is essential to be aware of the guideline value, as it ensures that the transaction is in compliance with the regulations set by the Registration Department. This value helps in assessing the official worth of the property for legal purposes.

Frequently asked questions

What is the current guideline value of Jain Nagar (Kamarajar Street)?

The current guideline value of Jain Nagar (Kamarajar Street) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What is the land classification for Jain Nagar (Kamarajar Street)?

Jain Nagar (Kamarajar Street) is classified as Residential Class II Type - II.

Where is the Sub Registrar Office located for Jain Nagar (Kamarajar Street)?

The Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for property in Jain Nagar (Kamarajar Street)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 8,80,000, the stamp duty would be Rs 61,600 at a rate of 7%.