Guideline Value for Jayammal Nagar

Jayammal Nagar guideline value

The current guideline value of Jayammal Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO. The land classification for this region is Residential Class II Type - I.

How the guideline value of Jayammal Nagar has changed

The guideline value of Jayammal Nagar has seen several revisions over the years. In 2003, the value was Rs 231 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2007. Following that, the value rose to Rs 2,500 per sq.ft in 2012, but then decreased to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,700 per sq.ft in 2024.

Between the revisions, the changes were notable. From 2003 to 2007, there was an increase of +203%. The value then rose by +257% from 2007 to 2012. However, from 2012 to 2017, there was a decline of -33%. The value increased by +49% from 2017 to 2023, and from 2023 to 2024, it rose by +8%. Overall, from 2003 to 2024, the guideline value has increased by +1069%. The register has no figure for the year 2002 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Jayammal Nagar is below this median.

• Jayanthi Nagar: Rs 3,300 per sq.ft (2024)
• Jayanthi Nagar Extension: Rs 5,500 per sq.ft (2024)
• Jawakar Nagar / Street: Rs 2,700 per sq.ft (2024)
• Jayaram Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Jayaram Nagar 1st Main Road: Rs 4,400 per sq.ft (2024)
• Jayaram Nagar 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jayammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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 Jayammal Nagar?

The Sub Registrar Office that covers Jayammal Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value when negotiating sale prices, as the registration fee and stamp duty are calculated based on it.

When a property is registered, the guideline value is used to assess the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions. Therefore, understanding the guideline value is essential for anyone looking to buy or sell property in the area.

Frequently asked questions

What is the current guideline value of Jayammal Nagar?

The current guideline value of Jayammal Nagar is Rs 2,700 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 231 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of +1069% over this period.

What is the land classification for Jayammal Nagar?

Jayammal Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 2,43,000 in fees.

Where is the Sub Registrar Office for Jayammal Nagar located?

The Sub Registrar Office covering Jayammal Nagar is located at 5, Papermills Road, Sembiam, Chennai - 600011.