Guideline Value for Jayalailtha nagar

Jayalailtha nagar guideline value

The current guideline value of Jayalailtha nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Ernavur village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Jayalailtha nagar has changed

Over the years, the guideline value for Jayalailtha nagar has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,600 per sq.ft as per the 2024 revision. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a notable increase of 49%. The transition from 2023 to 2024 reflects a rise of 7%. Overall, comparing the 2012 and 2024 revisions, there is a slight increase of 7% in the guideline value.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft. The median value is Rs 1,600 per sq.ft, which aligns with the current guideline value of Jayalailtha nagar.

• Jayanthi Nagar: Rs 1,600 per sq.ft (2024)
• Jaihith Nagar: Rs 1,800 per sq.ft (2024)
• Jothi Nagar/Main Roads/Cross Streets: Rs 1,800 per sq.ft (2024)
• Indra Gandhi Kuppam: Rs 1,400 per sq.ft (2024)
• Kamalammal Street: Rs 1,800 per sq.ft (2024)
• Kamarajar Nagar/ Main Streets/ Cross Streets: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Jayalailtha nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Jayalailtha nagar?

The Sub Registrar Office that covers Jayalailtha nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Ernavur. When you buy or sell property, the registration process requires the payment of stamp duty and registration fees based on this value.

It is essential to note that the guideline value may influence the overall cost of property transactions, as it determines the minimum valuation for registration purposes. Buyers and sellers should be aware of these figures to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Jayalailtha nagar?

The current guideline value of Jayalailtha nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and is now Rs 1,600 per sq.ft in 2024.

What is the land classification for Jayalailtha nagar?

Jayalailtha nagar is classified as Residential Class I Type - II.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for property in Jayalailtha nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000.