Guideline Value for Jayalalitha Nagar - Ganesan Street

Jayalalitha Nagar - Ganesan Street guideline value

The current guideline value for Jayalalitha Nagar - Ganesan Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village under the Virugambakkam SRO and falls under the Residential Class III Type - I land classification.

How the guideline value of Jayalalitha Nagar - Ganesan Street has changed

The guideline value for Jayalalitha Nagar - Ganesan Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and now stands at Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the value decreased by 33% from the 2012 figure to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nesapakkam

Nesapakkam contains 148 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value in this village is Rs 3,300 per sq.ft, placing the 2024 figure for Jayalalitha Nagar - Ganesan Street below that median.

• Jayalalitha Nagar: Rs 2,200 per sq.ft (2024)
• Jayalalitha Nagar - Govindan Street: Rs 2,200 per sq.ft (2024)
• Jayalalitha Nagar - Krishna Moorthy Street: Rs 2,200 per sq.ft (2024)
• Jayalalitha Nagar - Zeenath Sharbudeen Street: Rs 2,200 per sq.ft (2024)
• Janani Avenue: Rs 2,750 per sq.ft (2024)
• Jaibalaji Nagar Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jayalalitha Nagar - Ganesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost together to Rs 1,98,000. 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 Jayalalitha Nagar - Ganesan Street?

The Jayalalitha Nagar - Ganesan Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor during property transactions in Nesapakkam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

When registering a property, the guideline value influences the stamp duty and registration fees that need to be paid. These fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Jayalalitha Nagar - Ganesan Street?

The current guideline value for Jayalalitha Nagar - Ganesan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and is now Rs 2,200 per sq.ft in 2024.

What is the land classification for this street?

Jayalalitha Nagar - Ganesan Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for this area?

The registration office for Jayalalitha Nagar - Ganesan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty for properties in Jayalalitha Nagar - Ganesan Street is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2%.