Guideline Value for Jayalalitha Nagar

Jayalalitha Nagar guideline value

The current guideline value of Jayalalitha Nagar, located in Nesapakkam village under the Virugambakkam SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Jayalalitha Nagar has changed

The guideline value for Jayalalitha Nagar has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 150 per sq.ft. This increased to Rs 165 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 250 per sq.ft, reflecting a significant increase of 52%. The 2012 revision saw the value rise to Rs 2,000 per sq.ft, a remarkable 700% increase from the previous figure. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The guideline value then increased to Rs 2,000 per sq.ft in 2023, followed by the current value of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1367%. The register has no figures for the years not listed above for this street.

Guideline values in Nesapakkam

In Nesapakkam, there are 148 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,150 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Jayalalitha Nagar is below this median.

• Jayalalitha Nagar - Ganesan Street: 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

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, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jayalalitha Nagar?

The Sub Registrar Office that covers Jayalalitha Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO online for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nesapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. The guideline value is essential for ensuring that the transaction is recorded accurately and transparently.

When a property is sold, the guideline value is compared with the sale price. The stamp duty is charged on the higher of the two amounts, ensuring that the government receives the appropriate revenue from property transactions. This process helps maintain the integrity of property transactions in the region.

Frequently asked questions

What is the current guideline value of Jayalalitha Nagar?

The current guideline value of Jayalalitha Nagar 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 significantly from Rs 150 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1367%.

What are the other streets with the same guideline value in Nesapakkam?

Other streets in Nesapakkam with the same guideline value of Rs 2,200 per sq.ft include Ganesan Street, Govindan Street, Krishna Moorthy Street, and Zeenath Sharbudeen Street.

What fees are involved in buying property in Jayalalitha Nagar?

When buying property in Jayalalitha Nagar, the fees include stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

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

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