Guideline Value for Jain Nagar

Jain Nagar guideline value

The current guideline value of Jain Nagar, located in Ayappakkam village under the Ambattur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Jain Nagar has changed

The guideline value of Jain Nagar has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 75 per sq.ft. It increased significantly to Rs 95 per sq.ft in 2003, marking a 27% rise. The value continued to climb, reaching Rs 400 per sq.ft in 2007, which was a substantial increase of 321%. In 2012, the guideline value was Rs 800 per sq.ft, reflecting a 100% increase from the previous revision. However, it then dropped to Rs 536 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the value rose to Rs 800 per sq.ft, which was a 49% increase. The latest revision in 2024 set the guideline value at Rs 880 per sq.ft, marking a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 1073%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, which indicates that Jain Nagar's 2024 figure is below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jain Nagar?

The Sub Registrar Office that covers Jain Nagar 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 in property transactions in Ayappakkam. It serves as a benchmark for determining the minimum price at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

During the registration process, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the state government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jain Nagar?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 75 per sq.ft in 2002 to Rs 880 per sq.ft in 2024, reflecting a significant overall increase of 1073% over the years.

What are the stamp duty and registration fees for properties in Jain Nagar?

For a 1,000 sq.ft plot, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200 based on the current guideline value.

Which office handles the registration of properties in Jain Nagar?

The Ambattur Sub Registrar Office handles the registration of properties in Jain Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053.

What is the land classification for Jain Nagar?

The land classification for Jain Nagar is Residential Class II Type - II, which is relevant for determining the guideline value and applicable regulations.