Guideline Value for Jayalalitha Nagar - Krishna Moorthy Street

Jayalalitha Nagar - Krishna Moorthy Street guideline value

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

How the guideline value of Jayalalitha Nagar - Krishna Moorthy Street has changed

Over the years, the guideline value of Jayalalitha Nagar - Krishna Moorthy Street has seen several revisions. The earliest recorded revision is from 2012, where the guideline value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 2,000 per sq.ft, and the latest revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

In summary, the 2024 revision shows an increase of 10% from the 2023 figure of Rs 2,000 per sq.ft. The overall change from the 2012 figure of Rs 2,000 per sq.ft to the current 2024 value of Rs 2,200 per sq.ft is a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nesapakkam

Nesapakkam village features a range of guideline values across its 148 streets under the Virugambakkam SRO, with values ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, indicating that the guideline value for Jayalalitha Nagar - Krishna Moorthy Street is below this median.

• Jayalalitha Nagar - Govindan Street: Rs 2,200 per sq.ft (2024)
• Jayalalitha Nagar - Zeenath Sharbudeen Street: Rs 2,200 per sq.ft (2024)
• Jayalalitha Nagar - Ganesan Street: Rs 2,200 per sq.ft (2024)
• Jayalalitha Nagar: 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 - Krishna Moorthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to 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 Jayalalitha Nagar - Krishna Moorthy Street?

The Sub Registrar Office that covers Jayalalitha Nagar - Krishna Moorthy Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the property registration process in Nesapakkam. It serves as a benchmark for determining the minimum value of a property during registration, ensuring that properties are not undervalued. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is considered alongside the sale price. The higher of the two values is used for calculating the applicable duties and fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jayalalitha Nagar - Krishna Moorthy Street?

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

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 2,000 per sq.ft to Rs 2,200 per sq.ft in 2024, with notable fluctuations, including a decrease to Rs 1,340 per sq.ft in 2017.

What is the land classification for this street?

The land classification for Jayalalitha Nagar - Krishna Moorthy Street is Residential Class III Type - I.

What are the registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office located for this street?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.