Guideline Value for Jayalakshmi Nagar II

Jayalakshmi Nagar II guideline value

The current guideline value of Jayalakshmi Nagar II is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Pothur village under the Redhills SRO, classified as Residential Class I Type - I.

How the guideline value of Jayalakshmi Nagar II has changed

The guideline value for Jayalakshmi Nagar II has undergone several revisions over the years. In 2002, the guideline value was Rs 190 per sq.ft, which increased to Rs 20 per sq.ft in 2003. This was a significant drop of 89%. The value then saw a dramatic rise to Rs 200 per sq.ft in 2007, marking an increase of 900%. Following this, the value increased to Rs 500 per sq.ft in 2012, showing a 150% rise. However, it decreased to Rs 335 per sq.ft in 2017, which was a decline of 33%. The value then rose to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 189%. The register has no figure for this street for the years not mentioned in the revisions.

Guideline values in Pothur

In Pothur, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 2,000 per sq.ft, with the median value being Rs 550 per sq.ft. Jayalakshmi Nagar II's 2024 figure is equal to this median.

• Jayalakshmi Nagar I: Rs 550 per sq.ft (2024)
• Jayalakshmi Nagar III: Rs 550 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 550 per sq.ft (2024)
• Jansi Nagar: Rs 440 per sq.ft (2024)
• Jai Jalaram Nagar: Rs 550 per sq.ft (2024)
• Jageshwari Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Jayalakshmi Nagar II

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty, charged at 7%, would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. 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 more details.

Which Sub Registrar Office covers Jayalakshmi Nagar II?

The Sub Registrar Office covering Jayalakshmi Nagar II is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process when buying or selling property in Pothur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that both parties are aware of the financial obligations involved in the transaction.

When you register a property, the guideline value is used to calculate the applicable duties and fees. This value can influence the overall cost of the transaction, making it essential for buyers and sellers to be informed about the current guideline value in their area.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar II?

The current guideline value of Jayalakshmi Nagar II is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 190 per sq.ft in 2002 to Rs 550 per sq.ft in 2024, with various increases and decreases in between.

What is the registration fee for properties in Jayalakshmi Nagar II?

The registration fee is calculated at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Jayalakshmi Nagar II located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, ensuring transparency and compliance with legal requirements.