Guideline Value for Jayanthi Nagar 2nd Street

Jayanthi Nagar 2nd Street guideline value

The current guideline value of Jayanthi Nagar 2nd 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 2nd Street has changed

The guideline value for Jayanthi Nagar 2nd Street has seen significant changes over the years. In 2002, the value was Rs 397 per sq.ft, which increased to Rs 445 per sq.ft in 2003. The value continued to rise, reaching Rs 1,300 per sq.ft in 2007, and then it jumped to Rs 3,500 per sq.ft in 2012. However, there was a decline to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023 and finally rose to Rs 3,900 per sq.ft in 2024.

Notable changes between revisions include a 12% increase from 2002 to 2003, a 192% increase from 2003 to 2007, a 169% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and an 11% increase from 2023 to 2024. 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 with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 2,800 per sq.ft, placing Jayanthi Nagar 2nd Street's 2024 figure above this median.

• Jayanthi Nagar 23rd Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 22nd Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 4th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 21th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 5th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Jayanthi Nagar 2nd 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 to 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 information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayanthi Nagar 2nd Street?

The Sub Registrar Office that covers Jayanthi Nagar 2nd 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 further assistance.

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

The guideline value plays a crucial role when buying or selling property in Ullagaram. It serves as the basis for calculating the stamp duty and registration fees that are required during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the transaction.

Frequently asked questions

What is the current guideline value of Jayanthi Nagar 2nd Street?

The current guideline value of Jayanthi Nagar 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 397 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, which is an overall increase of 882%.

What is the land classification for Jayanthi Nagar 2nd Street?

Jayanthi Nagar 2nd Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Jayanthi Nagar 2nd Street?

The Sub Registrar Office for Jayanthi Nagar 2nd 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?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 39,00,000, the stamp duty at 7% would be Rs 2,73,000.