Guideline Value for Jayanthi Nagar Extension

Jayanthi Nagar Extension guideline value

The current guideline value of Jayanthi Nagar Extension is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO, classified as Commercial Class I Type - I.

How the guideline value of Jayanthi Nagar Extension has changed

Over the years, the guideline value for Jayanthi Nagar Extension has seen significant changes. In 2007, the guideline value was Rs 1,200 per sq.ft, which increased to Rs 5,000 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 raised the guideline value to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2017 for this street. The increase from 2007 to 2012 was substantial at 317%, and the overall increase from 2007 to 2024 stands at 358%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, placing Jayanthi Nagar Extension above this median.

• Jayanthi Nagar: Rs 3,300 per sq.ft (2024)
• Jayaram Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Jayaram Nagar 1st Main Road: Rs 4,400 per sq.ft (2024)
• Jayaram Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Jayaram Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Jayaram Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jayanthi Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayanthi Nagar Extension?

The Jayanthi Nagar Extension is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Kolathur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory. Buyers should be aware that these fees are based on the higher value between the guideline value and the actual sale price.

Frequently asked questions

What is the current guideline value of Jayanthi Nagar Extension?

The current guideline value of Jayanthi Nagar Extension is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 358% over the years.

What is the land classification for Jayanthi Nagar Extension?

Jayanthi Nagar Extension is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Jayanthi Nagar Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.