Guideline Value for Jain Nakshathra

Jain Nakshathra guideline value

The current guideline value of Jain Nakshathra is Rs 7,100 per sq.ft, effective from 1 July 2024. This property is located in 1. Nolambur village, under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Jain Nakshathra has changed

The guideline value for Jain Nakshathra has seen several revisions over the years. The earliest recorded figure is from 2017, which was Rs 4,355 per sq.ft. This value increased to Rs 6,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 63%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 8,800 per sq.ft. The guideline value of Jain Nakshathra aligns with the median value of Rs 7,100 per sq.ft for this area.

• Jain Sundarbans [Guruswamy Street]: Rs 7,100 per sq.ft (2024)
• Iswarya Nagar: Rs 5,500 per sq.ft (2024)
• Iswaryam Phase II: Rs 7,100 per sq.ft (2024)
• Jeyabarath Apartments: Rs 7,100 per sq.ft (2024)
• Guruswamy Street [Jain Sundarbans]: Rs 7,100 per sq.ft (2024)
• Golden Fortune: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Jain Nakshathra

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, resulting in a total of Rs 6,39,000. 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jain Nakshathra?

The Jain Nakshathra property falls under the Villivakkam Sub Registrar Office. The address is Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, located near the Nolambur Eb Office. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is a critical factor in the registration process when buying or selling property in 1. Nolambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Jain Nakshathra?

The current guideline value of Jain Nakshathra is Rs 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 4,355 per sq.ft in 2017 to Rs 7,100 per sq.ft in 2024, which is a total increase of 63% over this period.

What is the land classification for Jain Nakshathra?

The land classification for Jain Nakshathra is Residential Special Type - I, indicating its designated use for residential purposes.

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

The Villivakkam Sub Registrar Office covers Jain Nakshathra, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Jain Nakshathra?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 at a rate of 7%.