Guideline Value for Jayalakshmi Nagar

Jayalakshmi Nagar guideline value

The current guideline value of Jayalakshmi Nagar, located in Ayakolathur village under the Sriperumpudur SRO, is Rs 300 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under Residential Class I Type - I land classification.

How the guideline value of Jayalakshmi Nagar has changed

Over the years, the guideline value of Jayalakshmi Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 60 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value decreased to Rs 201 per sq.ft, a drop of 33%. The guideline value remained at Rs 300 per sq.ft in both 2023 and the upcoming 2024 revision, indicating no change between these two years. The overall increase from 2007 to 2024 is 400%.

The register has no figure for the years 2002 and 2003 for this street. The consistent value of Rs 300 per sq.ft in the recent revisions reflects stability in this area.

Guideline values in Ayakolathur

In Ayakolathur, there are 15 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 700 per sq.ft, with a median value of Rs 200 per sq.ft. Jayalakshmi Nagar's 2024 figure of Rs 300 per sq.ft is above this median.

• Kakkajji Street: Rs 150 per sq.ft (2024)
• Main Road: Rs 700 per sq.ft (2024)
• Chand Nagar: Rs 300 per sq.ft (2024)
• M.G.R Street: Rs 200 per sq.ft (2024)
• Bajanai Koil Street: Rs 300 per sq.ft (2024)
• Anna Street: Rs 200 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total charges Rs 27,000. 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?

The Sub Registrar Office that covers Jayalakshmi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ayakolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the higher value between the guideline value and the actual sale price is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Jayalakshmi Nagar?

The current guideline value of Jayalakshmi Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and has remained at Rs 300 per sq.ft in 2023 and 2024.

What is the median guideline value in Ayakolathur?

The median guideline value in Ayakolathur is Rs 200 per sq.ft, with Jayalakshmi Nagar's value being above this median at Rs 300 per sq.ft.

What is the stamp duty rate for properties in Jayalakshmi Nagar?

The stamp duty rate for properties in Jayalakshmi Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Jayalakshmi Nagar located?

The Sub Registrar Office for Jayalakshmi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.