Guideline Value for Jayabalan Nagar

Jayabalan Nagar guideline value

The current guideline value of Jayabalan Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Somangalam village under the Sriperumpudur SRO, classified as Residential Special Type - I.

How the guideline value of Jayabalan Nagar has changed

In the 2012 revision, the guideline value was set at Rs 400 per sq.ft. This remained unchanged in the subsequent 2017 revision, where the value was Rs 268 per sq.ft. The 2023 revision again maintained the guideline value at Rs 400 per sq.ft. The most recent 2024 revision also lists the value at Rs 400 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street.

Between the revisions, there has been a notable change from 2017 to 2023, with an increase of 49%. However, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 400 per sq.ft.

Guideline values in Somangalam

In Somangalam village, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value for Jayabalan Nagar is above this median.

• Jayaram Nagar: Rs 250 per sq.ft (2024)
• Jeyam Nagar: Rs 400 per sq.ft (2024)
• Indira Nagar Part II: Rs 200 per sq.ft (2024)
• Indira Nagar: Rs 400 per sq.ft (2024)
• Kailashpuri Nagar: Rs 250 per sq.ft (2024)
• Hi-tech city Extension: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Jayabalan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty is charged at 7%, resulting in Rs 28,000, while the registration fee is 2%, amounting to Rs 8,000. Together, the total fees would be Rs 36,000. It is important to 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 further calculations.

Which Sub Registrar Office covers Jayabalan Nagar?

The Sub Registrar Office that covers Jayabalan 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 Somangalam

The guideline value is a crucial factor when registering property transactions in Somangalam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jayabalan Nagar?

The current guideline value of Jayabalan Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, notably a 49% increase from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the value has remained constant at Rs 400 per sq.ft.

What other streets in Somangalam have guideline values?

Other streets in Somangalam under the Sriperumpudur SRO include Jayaram Nagar, Jeyam Nagar, Indira Nagar Part II, Indira Nagar, Kailashpuri Nagar, and Hi-tech city Extension, with values ranging from Rs 200 to Rs 400 per sq.ft.

What are the stamp duty and registration fees for property in Jayabalan Nagar?

The stamp duty for a property valued at Rs 4,00,000 is Rs 28,000, while the registration fee is Rs 8,000, resulting in total fees of Rs 36,000. These fees are based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Jayabalan Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information online.