Guideline Value for Jayalakshmi Nagar Annex-1

Jayalakshmi Nagar Annex-1 guideline value

The current guideline value of Jayalakshmi Nagar Annex-1 is Rs 1,000 per sq.ft, effective from 1 July 2024. This property is located in Adhanoor village under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Jayalakshmi Nagar Annex-1 has changed

The guideline value for Jayalakshmi Nagar Annex-1 has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 300 per sq.ft. It then increased significantly to Rs 1,000 per sq.ft in 2012, marking a 233% rise. However, in the following revision in 2017, the value decreased to Rs 670 per sq.ft, which was a 33% decline from the previous figure. The value remained at Rs 670 per sq.ft until the 2023 revision, where it was again set at Rs 1,000 per sq.ft, showing a 49% increase. The current revision in 2024 maintains this value at Rs 1,000 per sq.ft, reflecting no change from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street in the register.

Guideline values in Adhanoor

In Adhanoor, there are a total of 169 streets under the Gooduvancheri SRO, with guideline values for 2024 ranging from Rs 670 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, which is equal to the current guideline value for Jayalakshmi Nagar Annex-1.

• Jayalakshmi Nagar Part-1,2: Rs 1,000 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 1,000 per sq.ft (2024)
• Jayalakshmi Dr.City: Rs 1,000 per sq.ft (2024)
• Jawaharayia Nagar: Rs 1,000 per sq.ft (2024)
• Jasmine Nagar (I,II): Rs 1,000 per sq.ft (2024)
• Jaya Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Jayalakshmi Nagar Annex-1

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that the 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 Jayalakshmi Nagar Annex-1?

The Sub Registrar Office that covers Jayalakshmi Nagar Annex-1 is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Adhanoor. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property transactions. Buyers and sellers must ensure that the sale price is either equal to or higher than the guideline value to avoid any discrepancies during registration.

When a property is sold, the guideline value helps in calculating the applicable fees, ensuring that both parties are aware of the financial obligations involved. It is essential for all parties to understand the guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar Annex-1?

The current guideline value of Jayalakshmi Nagar Annex-1 is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining the value at Rs 1,000 per sq.ft. The value increased from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023 and has remained the same in 2024.

What is the land classification of Jayalakshmi Nagar Annex-1?

Jayalakshmi Nagar Annex-1 is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Jayalakshmi Nagar Annex-1?

The Sub Registrar Office for Jayalakshmi Nagar Annex-1 is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Jayalakshmi Nagar Annex-1?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 10,00,000, the stamp duty at 7% would be Rs 70,000.