Guideline Value for Jak Nagar (Vijayalakshmi Street)

Jak Nagar (Vijayalakshmi Street) guideline value

The current guideline value for Jak Nagar (Vijayalakshmi Street) is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Special Type - I.

How the guideline value of Jak Nagar (Vijayalakshmi Street) has changed

Over the years, the guideline value for Jak Nagar (Vijayalakshmi Street) has seen several revisions. The 2024 revision sets the value at Rs 3,800 per sq.ft, an increase from Rs 3,500 per sq.ft in 2023, marking a change of +9%. The previous revision in 2017 had a guideline value of Rs 2,345 per sq.ft, which means there was a significant increase of +49% from 2017 to 2023. Notably, the 2012 revision also listed a value of Rs 3,500 per sq.ft, showing a decrease of -33% when compared to the 2017 figure. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

When looking at the overall change from 2012 to 2024, the guideline value has increased by +9%. This indicates a steady rise in the value over the years, reflecting changes in the local property landscape.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with guideline values for 2024 ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Jak Nagar (Vijayalakshmi Street) above this median.

• Jak Nagar (Subash Chandraboss Street): Rs 3,800 per sq.ft (2024)
• Jak Nagar (V.O.C. Street): Rs 3,800 per sq.ft (2024)
• Jak Nagar (Kataboman Street): Rs 3,800 per sq.ft (2024)
• Jak Nagar (Kambar Street): Rs 3,800 per sq.ft (2024)
• Jak Nagar (Kamarajar Street): Rs 3,800 per sq.ft (2024)
• Jak Nagar (Kakkan Street): Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Jak Nagar (Vijayalakshmi Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jak Nagar (Vijayalakshmi Street)?

The Sub Registrar Office that covers Jak Nagar (Vijayalakshmi Street) 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 Thirumullaivoyal

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions are recorded at a fair value as set by the government.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value for Jak Nagar (Vijayalakshmi Street)?

The current guideline value for Jak Nagar (Vijayalakshmi Street) is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023, and now to Rs 3,800 per sq.ft in 2024. This reflects an overall increase of +9% from 2012 to 2024.

What is the land classification for Jak Nagar (Vijayalakshmi Street)?

Jak Nagar (Vijayalakshmi Street) is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2%. For example, for a property valued at Rs 38,00,000, the total fees would amount to Rs 3,42,000.

Where can I find the Sub Registrar Office for Jak Nagar (Vijayalakshmi Street)?

The Sub Registrar Office for Jak Nagar (Vijayalakshmi Street) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.