Guideline Value

Corporate

Guideline Value for Jayalakshmi Nagar Extn.

₹2500/sq.ft.

The guideline value for Jayalakshmi Nagar Extn. in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2500 per sq.ft, effective 1 July 2024. It was Rs 2250 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Iii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class III Type - II
History
Period Guideline Value
From 1-7-2024 ₹2500 /sq.ft.
From 1-4-2023 ₹2250 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1507 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2250 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹350 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹300 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹84 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Jayalakshmi Nagar Extn.

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Jayalakshmi Nagar Extn. guideline value

The current guideline value of Jayalakshmi Nagar Extn. is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Jayalakshmi Nagar Extn. has changed

The guideline value for Jayalakshmi Nagar Extn. has seen significant changes over the years. In 2002, the guideline value was Rs 84 per sq.ft, which increased to Rs 300 per sq.ft in 2003. The value then rose to Rs 350 per sq.ft in 2007, followed by a substantial jump to Rs 2,250 per sq.ft in 2012. However, it decreased to Rs 1,507 per sq.ft in 2017 before climbing back to Rs 2,250 per sq.ft in 2023, and finally reaching Rs 2,500 per sq.ft in the 2024 revision.

From 2017 to 2023, the value increased by 49%. The most notable change occurred from 2007 to 2012, where the value surged by 543%. The overall increase from 2002 to 2024 is a remarkable 2,876%.

Guideline values in Nerkundram

Nerkundram village has a range of guideline values across its 476 streets under the Virugambakkam SRO, with figures for 2024 ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, making the current value of Jayalakshmi Nagar Extn. above this median.

Stamp duty and registration fee for property in Jayalakshmi Nagar Extn.

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total to Rs 2,25,000. 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 more detailed calculations.

Which Sub Registrar Office covers Jayalakshmi Nagar Extn.?

The Sub Registrar Office covering Jayalakshmi Nagar Extn. is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nerkundram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two figures is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar Extn.?

The current guideline value of Jayalakshmi Nagar Extn. is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 84 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting a total increase of 2,876% over this period.

What are the stamp duty rates for property in Jayalakshmi Nagar Extn.?

The stamp duty rate for property in Jayalakshmi Nagar Extn. is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Jayalakshmi Nagar Extn. located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Jayalakshmi Nagar Extn.?

Jayalakshmi Nagar Extn. is classified as Residential Class III Type - II, which is important for understanding its zoning and development potential.