Guideline Value for Jawharlal Nagar

Jawharlal Nagar guideline value

The current guideline value of Jawharlal Nagar, located in Naravarikuppam village under the Redhills SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Jawharlal Nagar has changed

The guideline value for Jawharlal Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, at Rs 700 per sq.ft. This value increased significantly to Rs 3,000 per sq.ft in 2012, representing a 329% increase. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, marking a 10% rise from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 371%.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Jawharlal Nagar's 2024 figure above this median.

• Jawaharlal Nagar Annex: Rs 2,200 per sq.ft (2024)
• Jawaharlal Nagar: Rs 3,300 per sq.ft (2024)
• Jeevanandam Street: Rs 1,650 per sq.ft (2024)
• Jeevarathinam Street: Rs 1,320 per sq.ft (2024)
• Kaalvai Street: Rs 1,320 per sq.ft (2024)
• Kalaivanar Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Jawharlal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. Please 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 more information.

Which Sub Registrar Office covers Jawharlal Nagar?

The Sub Registrar Office that covers Jawharlal Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Naravarikuppam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jawharlal Nagar?

The current guideline value of Jawharlal Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 371% over the years.

What are the guideline values for other streets in Naravarikuppam?

Other streets in Naravarikuppam have varying guideline values, with rates from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft.

What fees are associated with buying property in Jawharlal Nagar?

When buying property in Jawharlal Nagar, the stamp duty is 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value.

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

The Sub Registrar Office for Jawharlal Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.