Guideline Value for Jayalakshmi Nagar I

Jayalakshmi Nagar I guideline value

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

How the guideline value of Jayalakshmi Nagar I has changed

The guideline value for Jayalakshmi Nagar I has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 190 per sq.ft, which decreased to Rs 20 per sq.ft in 2003. The value then increased significantly to Rs 200 per sq.ft in 2007, followed by a substantial rise to Rs 500 per sq.ft in 2012. However, it dropped to Rs 335 per sq.ft in 2017. The 2023 revision marked a rise to Rs 500 per sq.ft, and the current 2024 revision shows an increase to Rs 550 per sq.ft.

In summary, from 2017 to 2023, the guideline value increased by 49%. The period from 2012 to 2017 saw a decrease of 33%, while from 2007 to 2012, there was an increase of 150%. The jump from 2003 to 2007 was notable at 900%. Overall, from 2002 to 2024, there has been an increase of 189% in the guideline value.

Guideline values in Pothur

Pothur village has a total of 98 streets under the Redhills SRO, with guideline values ranging from Rs 330 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, which is equal to the current guideline value of Jayalakshmi Nagar I.

• Jayalakshmi Nagar II: 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 I

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total fees Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jayalakshmi Nagar I?

The Sub Registrar Office that covers Jayalakshmi Nagar I 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 details.

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

The guideline value is a critical factor during property registration in Pothur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, it is essential to be aware of the current guideline value, as it impacts the overall cost of the transaction. Buyers and sellers should ensure that the sale price meets or exceeds the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar I?

The current guideline value of Jayalakshmi Nagar I 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 several times, starting from Rs 190 per sq.ft in 2002 to Rs 550 per sq.ft in 2024, reflecting various increases and decreases over the years.

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

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500, and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles registrations for Jayalakshmi Nagar I?

The Redhills Sub Registrar Office handles registrations for Jayalakshmi Nagar I, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value determined for properties in Pothur?

The guideline value for properties in Pothur is determined by the Registration Department and is based on various factors, including location and land classification. It serves as a reference point for property transactions in the area.