Guideline Value for Jayanthi Nagar 7th Street

Jayanthi Nagar 7th Street guideline value

The current guideline value of Jayanthi Nagar 7th 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 7th Street has changed

The guideline value for Jayanthi Nagar 7th Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 397 per sq.ft. This increased to Rs 445 per sq.ft in 2003, marking a 12% rise. The value continued to grow significantly, reaching Rs 1,300 per sq.ft in 2007, a 192% increase from the previous year. In 2012, the guideline value was Rs 3,500 per sq.ft, showing a substantial 169% increase from 2007. However, this value dropped to Rs 2,345 per sq.ft in 2017, which was a decrease of 33%.

From 2017 to 2023, the guideline value increased by 49% to reach Rs 3,500 per sq.ft. The most recent revision in 2024 has set the value at Rs 3,900 per sq.ft, reflecting an 11% increase from the previous year. 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 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 of Jayanthi Nagar 7th Street is above this median.

• Jayanthi Nagar 6th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 8th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 9th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 6th main road: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar 5th Street: Rs 3,900 per sq.ft (2024)
• Jayanthi Nagar Main: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Jayanthi Nagar 7th 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, while the registration fee at 2% would be Rs 78,000. Together, the total cost for stamp duty and registration 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 further calculations.

Which Sub Registrar Office covers Jayanthi Nagar 7th Street?

The Jayanthi Nagar 7th Street falls under the jurisdiction of 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 critical factor in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two figures is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jayanthi Nagar 7th Street?

The current guideline value of Jayanthi Nagar 7th 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 the years.

What is the land classification for Jayanthi Nagar 7th Street?

Jayanthi Nagar 7th Street is classified as Residential Class I Type - III.

Where can I find the registration office for Jayanthi Nagar 7th Street?

The registration office for Jayanthi Nagar 7th 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 7th Street?

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 would be Rs 2,73,000 at 7%.