Guideline Value for Jaya Chitra Nagar

Jaya Chitra Nagar guideline value

The current guideline value of Jaya Chitra Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Salamangalam village under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Jaya Chitra Nagar has changed

Over the years, the guideline value for Jaya Chitra Nagar has seen several revisions. The earliest recorded value is from 2007, which was Rs 40 per sq.ft. This figure increased significantly to Rs 200 per sq.ft in 2012, marking a substantial rise of 400%. However, the value then dropped to Rs 134 per sq.ft in 2017, a decrease of 33%. From 2017 to 2023, the guideline value remained stable at Rs 200 per sq.ft, reflecting a 49% increase from the previous revision. The current value has been maintained at Rs 200 per sq.ft since the 2023 revision.

It is important to note that the register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to the 2024 revision, the guideline value has increased by 400%.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 3,100 per sq.ft, with a median value of Rs 500 per sq.ft. Jaya Chitra Nagar's current guideline value is below this median.

• Ishwarya Nagar Extension: Rs 600 per sq.ft (2024)
• Indhu Nagar Extn: Rs 400 per sq.ft (2024)
• Indhu Nagar: Rs 400 per sq.ft (2024)
• Guru Vignesh Nagar: Rs 600 per sq.ft (2024)
• Green city Extension -III: Rs 550 per sq.ft (2024)
• Green City Extension -II: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Jaya Chitra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty, charged at 7%, would amount to Rs 14,000, while the registration fee at 2% would be Rs 4,000. Together, these fees would total Rs 18,000. It is important to note that 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 Jaya Chitra Nagar?

The Sub Registrar Office that covers Jaya Chitra Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Salamangalam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

When you register a property, the guideline value ensures that the transaction is documented at a fair value according to the local real estate market. This helps in maintaining transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Jaya Chitra Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most significant increase occurring from Rs 40 per sq.ft in 2007 to Rs 200 per sq.ft in 2012. The value has remained at Rs 200 per sq.ft since 2023.

What is the classification of land in Jaya Chitra Nagar?

Jaya Chitra Nagar is classified as Residential Class III Type - I, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Jaya Chitra Nagar?

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

How is stamp duty calculated in Jaya Chitra Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at 7%.