Guideline Value for Jashmine Nagar

Jashmine Nagar guideline value

The current guideline value of Jashmine Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Jashmine Nagar has changed

The guideline value for Jashmine Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and then rose to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions are notable, with a 49% increase from 2017 to 2023, and a 33% decrease from 2012 to 2017. It is important to note that the register has no figures for this street for the years 2002, 2003, and 2007.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. Jashmine Nagar's 2024 guideline value is below this median.

• Janakpurai Nagar: Rs 990 per sq.ft (2024)
• J A Nagar S.No 249/1a1b, 1b1b2 Part: Rs 1,980 per sq.ft (2024)
• Jagadeeswari Nagar: Rs 1,650 per sq.ft (2024)
• Ishwaryam Garden: Rs 1,320 per sq.ft (2024)
• Joshia Nagar: Rs 1,320 per sq.ft (2024)
• Kabaleeswaran Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Jashmine Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Jashmine Nagar?

The Sub Registrar Office that covers Jashmine Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Varadarajapuram, as it determines the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers to be aware of the guideline value when purchasing property, as it impacts the overall costs involved in the transaction. Ensuring that the sale price meets or exceeds the guideline value is necessary for a smooth registration process.

Frequently asked questions

What is the current guideline value of Jashmine Nagar?

The current guideline value of Jashmine Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Jashmine Nagar?

Jashmine Nagar is classified as Residential Class II Type - I, which indicates its designated use for residential purposes.

Where can I find the registration office for Jashmine Nagar?

The registration office for Jashmine Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Jashmine Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.