Guideline Value for Jayalakshmi Nagar

Jayalakshmi Nagar guideline value

The current guideline value of Jayalakshmi Nagar is Rs 3,190 per sq.ft, effective from 1 July 2024. This locality is situated in Madanandapuram village, under the Kunrathur SRO, and is classified as Residential Special Type - III.

How the guideline value of Jayalakshmi Nagar has changed

The guideline value for Jayalakshmi Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 800 per sq.ft. This figure increased significantly to Rs 2,900 per sq.ft in 2012, marking a rise of 263%. However, from 2012 to 2017, the value decreased to Rs 1,943 per sq.ft, a drop of 33%. The value then increased substantially to Rs 2,900 per sq.ft in 2023, which was a 49% rise, and has now reached Rs 3,190 per sq.ft in the 2024 revision, reflecting a 10% increase.

It is important to note that the guideline register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 299%.

Guideline values in Madanandapuram

Madanandapuram village has a total of 94 streets under the Kunrathur SRO, with 2024 guideline values ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median guideline value for these streets is Rs 3,520 per sq.ft, placing Jayalakshmi Nagar's 2024 figure below that median.

• Himatchal Nagar Phase II: Rs 3,190 per sq.ft (2024)
• Himachal Nagar Annex: Rs 3,190 per sq.ft (2024)
• Himachal Nagar: Rs 3,190 per sq.ft (2024)
• Kalyan Avenue: Rs 3,190 per sq.ft (2024)
• Kalyani Avenue: Rs 3,190 per sq.ft (2024)
• Gurusamy Nagar: Rs 3,960 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 3,190 per sq.ft, the total guideline value amounts to Rs 31,90,000. The stamp duty at 7% would be Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, bringing the total cost for these fees to Rs 2,87,100. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayalakshmi Nagar?

The Sub Registrar Office that covers Jayalakshmi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, within the Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Madanandapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with the prevailing market standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar?

The current guideline value of Jayalakshmi Nagar is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 3,190 per sq.ft in 2024, reflecting an overall increase of 299% over the years.

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

For a property valued at Rs 31,90,000, the stamp duty would be Rs 2,23,300 and the registration fee would be Rs 63,800, totaling Rs 2,87,100.

Which Sub Registrar Office is responsible for Jayalakshmi Nagar?

The Kunrathur Sub Registrar Office is responsible for Jayalakshmi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Jayalakshmi Nagar?

Jayalakshmi Nagar is classified as Residential Special Type - III, indicating its designated use for residential purposes.