Guideline Value for Jayanthi Nagar 1st Street

Jayanthi Nagar 1st Street guideline value

The current guideline value of Jayanthi Nagar 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Jayanthi Nagar 1st Street has changed

The guideline value for Jayanthi Nagar 1st Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 397 per sq.ft. In 2003, it increased to Rs 445 per sq.ft, marking a rise of 12%. The 2007 revision saw a significant jump to Rs 1,300 per sq.ft, which was a 192% increase. However, in 2012, the value adjusted to Rs 3,500 per sq.ft, reflecting a decrease of 33%. The 2017 revision brought the value back to Rs 2,345 per sq.ft, which was a 49% increase from the previous revision. In 2023, the guideline value was Rs 3,500 per sq.ft, and the latest revision in 2024 set it at Rs 3,900 per sq.ft, marking an 11% increase.

Overall, from 2002 to 2024, the guideline value has increased by 882%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Ullagaram

Ullagaram has a total of 298 streets under the Alandur SRO that carry 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 1st Street is above this median.

• Jayanthi Nagar 19th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 20th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 18th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 21th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 17th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 22nd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Jayanthi Nagar 1st 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 or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayanthi Nagar 1st Street?

The Sub Registrar Office that covers Jayanthi Nagar 1st 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 an essential factor during the registration of property transactions in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and fairly in the official records.

When a property is registered, the guideline value is used to calculate the applicable fees. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jayanthi Nagar 1st Street?

The current guideline value of Jayanthi Nagar 1st 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%.

What is the land classification for Jayanthi Nagar 1st Street?

Jayanthi Nagar 1st Street is classified as Residential Class I Type - III.

What is the registration office for Jayanthi Nagar 1st Street?

The registration office for Jayanthi Nagar 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Jayanthi Nagar 1st Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.