Guideline Value for Jain Nagar Prathana Salai

Jain Nagar Prathana Salai guideline value

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

How the guideline value of Jain Nagar Prathana Salai has changed

The guideline value for Jain Nagar Prathana Salai has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, there was a decrease to Rs 536 per sq.ft in 2017. The 2023 revision set the value at Rs 800 per sq.ft, followed by a rise to Rs 880 per sq.ft in the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. The value doubled from Rs 400 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, marking a 100% increase. Overall, from 2007 to 2024, the guideline value has risen by 120%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO with a guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value is Rs 1,300 per sq.ft, making the guideline value of Jain Nagar Prathana Salai below this median.

• Jain Nagar (Kamarajar Street): Rs 880 per sq.ft (2024)
• Jain Nagar (Jayalalitha street): 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 Prathana Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Jain Nagar Prathana Salai?

The Sub Registrar Office covering Jain Nagar Prathana Salai 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 more information.

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

The guideline value is a crucial factor when buying or selling property in Ayappakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions. Buyers and sellers must consider the guideline value to avoid any legal issues during the registration process.

When registering a property, the guideline value helps in calculating the stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the transaction, making the process transparent and efficient.

Frequently asked questions

What is the current guideline value of Jain Nagar Prathana Salai?

The current guideline value of Jain Nagar Prathana Salai 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, marking a significant increase of 120% over the years.

What is the land classification of Jain Nagar Prathana Salai?

Jain Nagar Prathana Salai is classified as Residential Class II Type - II.

Which office handles registrations for Jain Nagar Prathana Salai?

The Ambattur Sub Registrar Office handles registrations for Jain Nagar Prathana Salai, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Jain Nagar Prathana Salai?

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