Guideline Value for Jayanthi Nagar 18th Street

Jayanthi Nagar 18th Street guideline value

The current guideline value of Jayanthi Nagar 18th 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 18th Street has changed

The guideline value for Jayanthi Nagar 18th Street has seen several revisions over the years. In 2002, the value was Rs 397 per sq.ft, which increased to Rs 445 per sq.ft in 2003. Following this, a significant jump occurred with the 2007 revision, bringing the value to Rs 1,300 per sq.ft, an increase of 192%. The value then rose to Rs 3,500 per sq.ft in 2012, marking a 169% increase from the previous revision. However, between 2012 and 2017, the value decreased by 33% to Rs 2,345 per sq.ft. The 2023 revision saw the value increase to Rs 3,500 per sq.ft, followed by another increase to Rs 3,900 per sq.ft in 2024, which is an 11% rise.

Overall, from 2002 to 2024, the guideline value has increased by 882%. The register has no figure for the years not mentioned above.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that have 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 of Jayanthi Nagar 18th Street is above this median.

• Jayanthi Nagar 17th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 19th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 16th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 1st Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 15th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 20th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Jayanthi Nagar 18th 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. Together, the total cost for stamp duty and registration fee would be 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jayanthi Nagar 18th Street?

The Jayanthi Nagar 18th Street is covered by 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 in property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which property can be registered. When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

This ensures that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Jayanthi Nagar 18th Street?

The current guideline value of Jayanthi Nagar 18th 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 increased from Rs 397 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 882% over the years.

What is the registration office for Jayanthi Nagar 18th Street?

The registration office for Jayanthi Nagar 18th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the stamp duty and registration fees for a property in Jayanthi Nagar 18th Street?

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,51,000, based on the guideline value of Rs 39,00,000.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum value for property registration. Buyers must pay stamp duty and registration fees based on the higher of the guideline value or the sale price during a transaction.