Guideline Value for Jain Nagar 3rd Main Road

Jain Nagar 3rd Main Road guideline value

The current guideline value of Jain Nagar 3rd 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 and is classified as Residential Class I Type - I.

How the guideline value of Jain Nagar 3rd Main Road has changed

The guideline value for Jain Nagar 3rd Main Road has seen several revisions over the years. In 2007, the guideline value was Rs 525 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012. However, it then decreased to Rs 1,809 per sq.ft in 2017. The value then rose to Rs 2,700 per sq.ft in 2023, and currently, it stands at Rs 2,970 per sq.ft as of the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%, while the 2023 to 2024 revision reflects a 10% rise. The overall change from 2007 to 2024 shows a substantial increase of 466%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

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, with a median value of Rs 2,970 per sq.ft. Jain Nagar 3rd Main Road's current guideline value is equal to this median.

• Jain Nagar 2nd Main Road: Rs 2,970 per sq.ft (2024)
• Jain Nagar Extension: Rs 2,970 per sq.ft (2024)
• Jain Nagar 1st Main Road: Rs 2,970 per sq.ft (2024)
• Jain Nagar: 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 3rd 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 amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, making the total cost for these fees Rs 2,67,300. It is important to note that the 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 3rd Main Road?

The Jain Nagar 3rd Main Road falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the 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 when buying or selling property in Hastinapuram, as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the property transaction and ensures compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Jain Nagar 3rd Main Road?

The current guideline value of Jain Nagar 3rd 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, reflecting an overall increase of 466% over the years.

What are the stamp duty and registration fees for properties in Jain Nagar 3rd Main Road?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 29,70,000, the total fees would amount to Rs 2,67,300.

Which office handles property registrations for Jain Nagar 3rd Main Road?

The Pallavaram Sub Registrar Office handles property registrations for Jain Nagar 3rd Main Road, located at 7th Main Road, New Colony, Chromepet, Chennai.

What is the land classification for Jain Nagar 3rd Main Road?

Jain Nagar 3rd Main Road is classified as Residential Class I Type - I, indicating its suitability for residential development.