Guideline Value for Jayanthi Nagar 16th Street

Jayanthi Nagar 16th Street guideline value

The current guideline value of Jayanthi Nagar 16th 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 falls under the Residential Class I Type - III land classification.

How the guideline value of Jayanthi Nagar 16th Street has changed

The guideline value for Jayanthi Nagar 16th Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 397 per sq.ft. This increased to Rs 445 per sq.ft in 2003, then saw a significant rise to Rs 1,300 per sq.ft in 2007. By 2012, the value was Rs 3,500 per sq.ft, but it dropped to Rs 2,345 per sq.ft in 2017. The guideline value then increased to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,900 per sq.ft as of the 2024 revision.

In terms of percentage changes, the value increased by 11% from 2023 to 2024. From 2017 to 2023, there was a 49% increase. The value decreased by 33% from 2012 to 2017, while it rose significantly by 169% from 2007 to 2012. Between 2003 and 2007, the increase was 192%, and from 2002 to 2003, there was a 12% rise. Overall, from 2002 to 2024, the guideline value has increased by 882%.

Guideline values in Ullagaram

Ullagaram has a total of 298 streets under the Alandur SRO carrying a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value for Jayanthi Nagar 16th Street is above this median.

• Jayanthi Nagar 15th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 17th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 14th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 18th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 13th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 19th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Jayanthi Nagar 16th 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, totaling 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayanthi Nagar 16th Street?

The Sub Registrar Office covering Jayanthi Nagar 16th 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 plays a crucial role during the registration of property transactions. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling a property in Ullagaram, it is important to be aware of the current guideline value, as it affects the financial obligations involved in the transaction. Buyers should ensure they understand how this value influences the overall costs associated with property registration.

Frequently asked questions

What is the current guideline value of Jayanthi Nagar 16th Street?

The current guideline value of Jayanthi Nagar 16th 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 several times, with the most recent increase being 11% from 2023 to 2024. The overall increase from 2002 to 2024 is 882%.

What is the land classification of Jayanthi Nagar 16th Street?

Jayanthi Nagar 16th Street falls under the Residential Class I Type - III land classification.

Where can I find the registration office for Jayanthi Nagar 16th Street?

The registration office for Jayanthi Nagar 16th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Jayanthi Nagar 16th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,73,000 at a rate of 7%.