Guideline Value for Jain Nagar

Jain Nagar guideline value

The current guideline value of Jain Nagar, located in Hastinapuram village under the Pallavaram SRO, is Rs 2,970 per sq.ft. This value is effective from 1 July 2024 and falls under Residential Class I Type - I land classification.

How the guideline value of Jain Nagar has changed

The guideline value for Jain Nagar has seen 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. However, it then dropped to Rs 1,809 per sq.ft in 2017. Following this, the value rose sharply to Rs 2,700 per sq.ft in 2023, and further increased by 10% to the current rate of Rs 2,970 per sq.ft in the 2024 revision.

Overall, from 2007 to 2024, the guideline value has increased by 466%. The revisions for the years 2002 and 2003 do not have any figures recorded 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's current guideline value matches this median.

• Jain Nagar 1st Main Road: Rs 2,970 per sq.ft (2024)
• Jain Nagar 2nd Main Road: Rs 2,970 per sq.ft (2024)
• Jain Nagar 3rd Main Road: 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

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. Therefore, the total cost for stamp duty and registration would be 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jain Nagar?

The Jain Nagar area falls under 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 information.

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

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

Frequently asked questions

What is the current guideline value of Jain Nagar?

The current guideline value of Jain Nagar 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 changed significantly from Rs 525 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, marking an overall increase of 466%.

What are the other streets in Hastinapuram with the same guideline value?

Other streets in Hastinapuram with a guideline value of Rs 2,970 per sq.ft include Jain Nagar 1st Main Road, Jain Nagar 2nd Main Road, Jain Nagar 3rd Main Road, Jain Nagar Extension, and Janakiraman Street.

What is the stamp duty for property in Jain Nagar?

The stamp duty for property in Jain Nagar is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900.

Where can I find the Sub Registrar Office for Jain Nagar?

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