Guideline Value for Jayanthi Nagar 14th Street

Jayanthi Nagar 14th Street guideline value

The current guideline value of Jayanthi Nagar 14th 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 14th Street has changed

The guideline value for Jayanthi Nagar 14th Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 397 per sq.ft. This value increased to Rs 445 per sq.ft in 2003. Following this, the guideline value saw significant increases, reaching Rs 1,300 per sq.ft in 2007, and then jumping to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017, before rising again to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft.

From 2017 to 2023, there was a 49% increase in the guideline value. The jump from 2023 to 2024 represents an 11% rise. Notably, the overall change from 2002 to 2024 reflects an increase of 882% in the guideline value for this street.

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 guideline value in the village is Rs 2,800 per sq.ft, and Jayanthi Nagar 14th Street's 2024 figure is above this median.

• Jayanthi Nagar 13th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 15th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 12th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 16th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 11th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 17th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Jayanthi Nagar 14th 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, leading to a total of Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayanthi Nagar 14th Street?

The Sub Registrar Office that covers Jayanthi Nagar 14th 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 when registering property transactions in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jayanthi Nagar 14th Street?

The current guideline value of Jayanthi Nagar 14th 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 from Rs 397 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 882% over this period.

What is the stamp duty rate for properties in Jayanthi Nagar 14th Street?

The stamp duty rate for properties in Jayanthi Nagar 14th Street is 7% of the guideline value or the sale price, whichever is higher.

What is the registration fee for properties in Jayanthi Nagar 14th Street?

The registration fee for properties is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Jayanthi Nagar 14th Street?

The Sub Registrar Office for Jayanthi Nagar 14th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.