Guideline Value for Jayalakshmi Nagar

Jayalakshmi Nagar guideline value

The current guideline value of Jayalakshmi Nagar is Rs 555 per sq.ft, effective from 1 July 2024. This locality is situated in Vellanoor-1 village under the Avadi SRO and is classified as Residential Class I Type - I.

How the guideline value of Jayalakshmi Nagar has changed

The guideline value for Jayalakshmi Nagar has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw a further increase to Rs 555 per sq.ft, reflecting an 11% change from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 66%. Notably, there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vellanoor-1

In Vellanoor-1, there are 34 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,980 per sq.ft. The median value is Rs 555 per sq.ft, which is equal to the guideline value of Jayalakshmi Nagar.

• Kannappa Garden: Rs 550 per sq.ft (2024)
• Ganga Nagar Annex: Rs 555 per sq.ft (2024)
• Ganesh Nagar: Rs 555 per sq.ft (2024)
• Ganapathy Nagar: Rs 550 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 555 per sq.ft (2024)
• Krishna Nagar: Rs 555 per sq.ft (2024)

Stamp duty and registration fee for property in Jayalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 555 per sq.ft, the total guideline value amounts to Rs 5,55,000. The stamp duty, charged at 7%, would be Rs 38,850, and the registration fee at 2% would be Rs 11,100, totaling Rs 49,950. 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 details.

Which Sub Registrar Office covers Jayalakshmi Nagar?

The Sub Registrar Office that covers Jayalakshmi Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Vellanoor-1

The guideline value plays a crucial role in the registration process when buying or selling property in Vellanoor-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar?

The current guideline value of Jayalakshmi Nagar is Rs 555 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 555 per sq.ft in 2024. This represents an overall increase of 66% from 2017 to 2024.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 5,55,000, the total fees would amount to Rs 49,950.

Which office handles property registration for Jayalakshmi Nagar?

The Avadi Sub Registrar Office handles property registration for Jayalakshmi Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used as a basis for calculating stamp duty and registration fees when buying or selling property. It is compared with the sale price to determine which amount is applicable for the transaction.