Guideline Value for Jain Nagar 2nd Main Road

Jain Nagar 2nd Main Road guideline value

The current guideline value of Jain Nagar 2nd Main Road is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Jain Nagar 2nd Main Road has changed

The guideline value for Jain Nagar 2nd Main Road has experienced several revisions over the years. In 2007, the value was Rs 525 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a 414% rise. However, it saw a decrease to Rs 1,809 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 2,700 per sq.ft in 2023, reflecting a 49% increase. As of the 2024 revision, the current guideline value stands at Rs 2,970 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Jain Nagar 2nd Main Road. Overall, from 2007 to 2024, the guideline value has increased by 466%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value is Rs 2,970 per sq.ft, which matches the guideline value of Jain Nagar 2nd Main Road.

• Jain Nagar 1st Main Road: Rs 2,970 per sq.ft (2024)
• Jain Nagar 3rd Main Road: Rs 2,970 per sq.ft (2024)
• Jain Nagar: Rs 2,970 per sq.ft (2024)
• Jain Nagar Extension: Rs 2,970 per sq.ft (2024)
• Janakiraman Street: Rs 2,970 per sq.ft (2024)
• Janatha Nagar: Rs 2,920 per sq.ft (2024)

Stamp duty and registration fee for property in Jain Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jain Nagar 2nd Main Road?

The Jain Nagar 2nd Main Road falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial implications of the transaction. This process helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Jain Nagar 2nd Main Road?

The current guideline value of Jain Nagar 2nd Main Road is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 525 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, marking an overall increase of 466% over the years.

What were the guideline values in previous revisions?

In previous revisions, the guideline values were Rs 2,700 per sq.ft in 2012, Rs 1,809 per sq.ft in 2017, and Rs 2,700 per sq.ft in 2023.

Where can I find the registration office for Jain Nagar 2nd Main Road?

The registration office for Jain Nagar 2nd Main Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Jain Nagar 2nd Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 at 7%.