Guideline Value for Jayam Nagar

Jayam Nagar guideline value

The current guideline value of Jayam Nagar, located in Soorapattu village, under the Ambattur SRO, is Rs 1,200 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - II land classification.

How the guideline value of Jayam Nagar has changed

Over the years, the guideline value of Jayam Nagar has seen several revisions. The earliest recorded figure is from 2012, where the value was Rs 1,100 per sq.ft. This was followed by a decrease to Rs 737 per sq.ft in 2017, which marked a decline of 33%. The value then increased significantly to Rs 1,100 per sq.ft in 2023, representing a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,200 per sq.ft, a 9% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Soorapattu

In Soorapattu village, there are 115 streets under the Ambattur SRO that have a guideline value for 2024, ranging from Rs 1,100 to Rs 5,100 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing Jayam Nagar's 2024 figure below this median.

• Jayam Nagar Extn: Rs 1,200 per sq.ft (2024)
• Jasmin Nagar Extn: Rs 2,400 per sq.ft (2024)
• Jasmine Nagar: Rs 1,900 per sq.ft (2024)
• J.P.Nagar: Rs 2,200 per sq.ft (2024)
• J.P. Nagar(1st Street): Rs 2,200 per sq.ft (2024)
• J.P. Nagar(2nd Street): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jayam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, while the registration fee at 2% would be Rs 24,000. Together, the total cost for these fees would be Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayam Nagar?

The Sub Registrar Office covering Jayam Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Soorapattu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers must ensure that the transaction value is at least equal to the guideline value to avoid any penalties.

When registering a property, the buyer will be required to pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the state government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jayam Nagar?

The current guideline value of Jayam Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

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

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

Where is the Sub Registrar Office for Jayam Nagar located?

The Sub Registrar Office for Jayam Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the median guideline value for streets in Soorapattu?

The median guideline value for streets in Soorapattu is Rs 1,300 per sq.ft, with Jayam Nagar's 2024 figure being below this median.