Guideline Value for Jasmine Nagar

Jasmine Nagar guideline value

The current guideline value of Jasmine Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Pillaippakkam-A village, under the Sriperumpudur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Jasmine Nagar has changed

The guideline value for Jasmine Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 200 per sq.ft, which remains unchanged from the 2023 revision, also at Rs 200 per sq.ft. Prior to these, the 2017 revision recorded a guideline value of Rs 134 per sq.ft. There are no figures available for the revisions in 2012, 2007, 2003, and 2002 for this street.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has increased by 49% as well, reflecting the same rate from the previous revision.

Guideline values in Pillaippakkam-A

In Pillaippakkam-A, there are 49 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,254 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing Jasmine Nagar's 2024 figure below this median.

• Joy Garden: Rs 400 per sq.ft (2024)
• Guberan Nagar Part - II: Rs 840 per sq.ft (2024)
• Guberan Nagar: Rs 1,254 per sq.ft (2024)
• Kammalar Nagar: Rs 200 per sq.ft (2024)
• Ganapathy Nagar: Rs 200 per sq.ft (2024)
• Erikkarai Street: Rs 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total charges to Rs 18,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jasmine Nagar?

The Jasmine Nagar area falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Pillaippakkam-A

The guideline value is a crucial factor when buying or selling property in Pillaippakkam-A. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers should be aware that the guideline value directly impacts the stamp duty and registration fees applicable during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the necessary fees, ensuring that all transactions are conducted fairly and transparently. It is advisable for both buyers and sellers to familiarize themselves with the guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Jasmine Nagar?

The current guideline value of Jasmine Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Jasmine Nagar has remained at Rs 200 per sq.ft from 2023 to 2024, with a 49% increase from Rs 134 per sq.ft in 2017.

What is the land classification for Jasmine Nagar?

Jasmine Nagar is classified as Residential Class III Type - I, indicating its designation for residential use.

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

The Sub Registrar Office covering Jasmine Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How are stamp duty and registration fees calculated in Jasmine Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 18,000 in fees.