Guideline Value for Jayalakshmi Nagar

Jayalakshmi Nagar guideline value

The current guideline value of Jayalakshmi Nagar, located in Manancheri village under the Kunrathur SRO, is Rs 990 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 has changed

Over the years, the guideline value for Jayalakshmi Nagar has seen significant changes. In the 2007 revision, the value was set at Rs 150 per sq.ft, which increased dramatically by 500% to Rs 900 per sq.ft in 2012. However, it then decreased by 33% to Rs 603 per sq.ft in 2017. Following this, the 2023 revision marked an increase of 49% to Rs 900 per sq.ft, and the most recent 2024 revision reflects a further increase of 10%, bringing the current guideline value to Rs 990 per sq.ft.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,400 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, which is equal to the current guideline value of Jayalakshmi Nagar.

• Hari Avenue: Rs 990 per sq.ft (2024)
• Kalyani Nagar Part II: Rs 1,320 per sq.ft (2024)
• Guruvayurappan Nagar: Rs 990 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 990 per sq.ft (2024)
• K.M.K.Nagar: Rs 990 per sq.ft (2024)
• Kundrathur Garden Phase III: Rs 990 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 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty, charged at 7%, amounts to Rs 69,300, while the registration fee at 2% totals Rs 19,800. Together, these fees would be Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, 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, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manancheri. It serves as a benchmark for determining the property’s value and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value helps ensure that the transaction is registered at a price that reflects the area’s market conditions. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar?

The current guideline value of Jayalakshmi Nagar is Rs 990 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 150 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 560% from 2007 to 2024.

What is the land classification of Jayalakshmi Nagar?

Jayalakshmi Nagar falls under the Residential Class I Type - I land classification.

Where can I find the Sub Registrar Office for Jayalakshmi Nagar?

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

How is the stamp duty calculated for property in Jayalakshmi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 9,90,000, the stamp duty would be Rs 69,300 at 7%.