Guideline Value for Jawaharlal Nehru Salai

Jawaharlal Nehru Salai guideline value

The current guideline value of Jawaharlal Nehru Salai in Koyakbedu village is Rs 13,200 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the AnnaNagar SRO and is classified as Commercial Special Type - III.

How the guideline value of Jawaharlal Nehru Salai has changed

Over the years, the guideline value for Jawaharlal Nehru Salai has seen several revisions. The 2007 revision set the value at Rs 11,500 per sq.ft, which was then adjusted to Rs 12,000 per sq.ft in 2012. However, in 2017, it decreased to Rs 8,040 per sq.ft, marking a 33% drop. The value rebounded to Rs 12,000 per sq.ft in 2023, and the most recent revision in 2024 has increased it further to Rs 13,200 per sq.ft, reflecting a 10% rise from the previous year. The register has no figures for the years 2002 and 2003.

From the 2017 revision to 2023, there was a significant increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 15%, showing a gradual upward trend in the value of this street.

Guideline values in Koyakbedu

In Koyakbedu, there are 270 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 16,500 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Jawaharlal Nehru Salai is above this median, indicating its higher valuation compared to many other streets in the area.

• Jawaharlal Nehur Salai Main Road(Ambedkar Statue Bridge to Jai Nagar) Ring Road: Rs 13,100 per sq.ft (2024)
• Jai Nagar (Jagannatha Nagar 4th Street): Rs 3,300 per sq.ft (2024)
• Jai Nagar Ist Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar Ist Main Road: Rs 4,400 per sq.ft (2024)
• Jai Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Jai Nagar 8th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jawaharlal Nehru Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, while the registration fee at 2% would be Rs 2,64,000. Together, the total cost for these fees would be Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Jawaharlal Nehru Salai?

The Jawaharlal Nehru Salai falls under the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Koyakbedu, as it determines the minimum value at which a property can be registered. Buyers must be aware that the stamp duty and registration fees are calculated based on this value, ensuring that all transactions are aligned with government regulations.

When registering a property, it is essential to consider the guideline value as it reflects the official valuation set by the government, which helps in maintaining transparency in property transactions. This value is updated periodically to reflect changes in the market and local conditions.

Frequently asked questions

What is the current guideline value of Jawaharlal Nehru Salai?

The current guideline value of Jawaharlal Nehru Salai is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 11,500 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, with notable fluctuations in between, including a drop to Rs 8,040 per sq.ft in 2017.

What is the land classification for Jawaharlal Nehru Salai?

Jawaharlal Nehru Salai is classified as Commercial Special Type - III under the current guidelines.

Where can I find the registration office for Jawaharlal Nehru Salai?

The registration office covering Jawaharlal Nehru Salai is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated on properties in Koyakbedu?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 1,32,00,000, the stamp duty at 7% would be Rs 9,24,000.