Guideline Value for Jayanthi Nagar 11th Street

Jayanthi Nagar 11th Street guideline value

The current guideline value of Jayanthi Nagar 11th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Jayanthi Nagar 11th Street has changed

The guideline value for Jayanthi Nagar 11th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 397 per sq.ft, which increased to Rs 445 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,300 per sq.ft in 2007, and then further increased to Rs 3,500 per sq.ft in 2012. However, it saw a decrease to Rs 2,345 per sq.ft in 2017. The value then rose again to Rs 3,500 per sq.ft in 2023, before reaching the current rate of Rs 3,900 per sq.ft in 2024.

Between the revisions, the changes were notable. From 2002 to 2003, the increase was +12%. The value surged by +192% from 2003 to 2007, followed by a +169% rise from 2007 to 2012. The value decreased by -33% from 2012 to 2017, and then increased by +49% from 2017 to 2023. The most recent revision from 2023 to 2024 saw an increase of +11%. Overall, from 2002 to 2024, the guideline value has increased by +882%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, placing Jayanthi Nagar 11th Street's 2024 figure above that median.

• Jayanthi Nagar 10th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 12th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 13th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 14th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 15th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 16th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Jayanthi Nagar 11th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost to Rs 3,51,000. It is important to note that the 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 Jayanthi Nagar 11th Street?

The Sub Registrar Office that covers Jayanthi Nagar 11th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Ullagaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

It is important for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations and to accurately calculate the costs associated with property transactions. This value helps in establishing a baseline for the financial aspects of the sale.

Frequently asked questions

What is the current guideline value of Jayanthi Nagar 11th Street?

The current guideline value of Jayanthi Nagar 11th Street is Rs 3,900 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 397 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +882% over the years.

What is the land classification for Jayanthi Nagar 11th Street?

Jayanthi Nagar 11th Street is classified as Residential Class I Type - III, which indicates its designated use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where can I find the Sub Registrar Office for Jayanthi Nagar 11th Street?

The Sub Registrar Office for Jayanthi Nagar 11th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.