Guideline Value for Jalamma Nagar

Jalamma Nagar guideline value

The current guideline value of Jalamma Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This locality is situated in Kanchivakkam village, under the jurisdiction of the Gooduvancheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Jalamma Nagar has changed

Over the years, the guideline value of Jalamma Nagar has seen several revisions. The earliest recorded value was Rs 50 per sq.ft in 2007, which then increased significantly to Rs 400 per sq.ft in 2012. This value remained unchanged until the next revision in 2017, where it was adjusted to Rs 268 per sq.ft. Following this, the guideline value saw a substantial increase to Rs 400 per sq.ft in both 2023 and 2024, indicating no change from the 2023 figure.

From 2017 to 2023, the guideline value increased by 49%. However, the value decreased by 33% from 2012 to 2017. Notably, there was a remarkable increase of 700% from 2007 to 2012. Overall, comparing the figures from 2007 to 2024, the guideline value has increased by 700%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kanchivakkam

In Kanchivakkam, there are 23 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 600 per sq.ft, with a median value of Rs 500 per sq.ft. Jalamma Nagar's 2024 figure is below this median.

• Jayalakshmi Nagar: Rs 600 per sq.ft (2024)
• Jayalakshmi Nagar Extention: Rs 600 per sq.ft (2024)
• Green Grove Jeyam Nagar Annex-V: Rs 600 per sq.ft (2024)
• Green Grove Jayam Nagar Anex-6: Rs 600 per sq.ft (2024)
• Green Grove Jayam Co-op Nagar Annex-3: Rs 600 per sq.ft (2024)
• Kannan Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Jalamma Nagar

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Jalamma Nagar?

The Sub Registrar Office that covers Jalamma Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kanchivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jalamma Nagar?

The current guideline value of Jalamma Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and has remained at Rs 400 per sq.ft in 2023 and 2024.

What is the median guideline value in Kanchivakkam?

The median guideline value in Kanchivakkam is Rs 500 per sq.ft, with Jalamma Nagar's current value being below this median.

What are the stamp duty rates applicable in Jalamma Nagar?

The stamp duty rate in Jalamma Nagar is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering Jalamma Nagar is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.