Guideline Value for Jaya Nagar 2nd Main Road

Jaya Nagar 2nd Main Road guideline value

The current guideline value of Jaya Nagar 2nd Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Chitlapakkam village, under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Jaya Nagar 2nd Main Road has changed

Looking at the historical revisions, the guideline value for Jaya Nagar 2nd Main Road has seen significant changes over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which remained the same in the 2017 revision. However, the 2017 revision marked a decrease of 33%, bringing the value down to Rs 2,345 per sq.ft. The subsequent revisions saw an increase, with the 2023 revision raising it to Rs 3,500 per sq.ft, followed by a further increase to Rs 3,850 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, making the 2024 figure of Rs 3,850 per sq.ft for Jaya Nagar 2nd Main Road above the median.

• Jaya Nagar 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Jaya Nagar 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Jaya Nagar 4-th Cross St: Rs 3,850 per sq.ft (2024)
• Jaya Nagar Ist Cross Street: Rs 3,850 per sq.ft (2024)
• Jaya Nagar Ist Main Road: Rs 3,850 per sq.ft (2024)
• Jaya Nagar Station Border Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Jaya Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that 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 details.

Which Sub Registrar Office covers Jaya Nagar 2nd Main Road?

The Sub Registrar Office that covers Jaya Nagar 2nd Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Jaya Nagar 2nd Main Road?

The current guideline value of Jaya Nagar 2nd Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the 2012 revision at Rs 3,500 per sq.ft, followed by a decrease to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023 and is now Rs 3,850 per sq.ft in 2024.

What is the land classification for Jaya Nagar 2nd Main Road?

The land classification for Jaya Nagar 2nd Main Road is Residential Special Type - II, indicating its suitability for residential developments.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500. Duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers this area?

The Tambaram Joint 1 Sub Registrar Office covers Jaya Nagar 2nd Main Road, located at No.26, Mes Road, East Tambaram, Chennai-600059.