Guideline Value for Jasmine Nagar

Jasmine Nagar guideline value

The current guideline value of Jasmine Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024. This locality is situated in Soorapattu village, under the Ambattur SRO, and is classified as Residential Special Type - II.

How the guideline value of Jasmine Nagar has changed

In 2012, the guideline value for Jasmine Nagar was Rs 1,800 per sq.ft. This value remained unchanged until the 2017 revision, where it decreased to Rs 1,206 per sq.ft. Following this, the 2023 revision saw a significant increase to Rs 1,800 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,900 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value saw a decrease of 33%. However, from 2017 to 2023, there was a notable increase of 49%. The overall change from 2012 to 2024 reflects a modest increase of 6%.

Guideline values in Soorapattu

In Soorapattu, there are 115 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value for Jasmine Nagar is above this median.

• Jasmin Nagar Extn: Rs 2,400 per sq.ft (2024)
• Jayam Nagar: Rs 1,200 per sq.ft (2024)
• Jayam Nagar Extn: Rs 1,200 per sq.ft (2024)
• I.N.T.U.C Nagar: Rs 1,300 per sq.ft (2024)
• J.P.Nagar: Rs 2,200 per sq.ft (2024)
• J.P. Nagar(1st Street): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jasmine Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jasmine Nagar?

The Sub Registrar Office that covers Jasmine Nagar 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 Soorapattu

The guideline value is a crucial factor in property transactions in Soorapattu, as it determines the minimum value at which a property can be registered. This value is set by the government and is used to calculate the stamp duty and registration fees applicable during the sale or purchase of property.

When a buyer or seller engages in a property transaction, the guideline value serves as a benchmark. The stamp duty is charged based on this value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jasmine Nagar?

The current guideline value of Jasmine Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification of Jasmine Nagar?

Jasmine Nagar is classified as Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Jasmine Nagar?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total registration costs would amount to Rs 1,71,000.

Which Sub Registrar Office covers Jasmine Nagar?

The Ambattur Sub Registrar Office covers Jasmine Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.