Guideline Value for Jayanthi Nagar

Jayanthi Nagar guideline value

The current guideline value of Jayanthi Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Jayanthi Nagar has changed

Over the years, the guideline value of Jayanthi Nagar has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 700 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 329%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The most recent revision in 2024 shows an increase to Rs 3,300 per sq.ft, which is a substantial rise of 64% from the 2017 figure.

It is important to note that there are no recorded figures for Jayanthi Nagar in the years 2023, 2003, and 2002. Overall, from 2007 to 2024, the guideline value has increased by 371%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Jayanthi Nagar.

• Jayanthi Nagar Extension: Rs 5,500 per sq.ft (2024)
• Jayammal Nagar: Rs 2,700 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)

Stamp duty and registration fee for property in Jayanthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty is charged at 7%, resulting in Rs 2,31,000, and the registration fee is 2%, amounting to Rs 66,000. Together, these fees total Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jayanthi Nagar?

The Sub Registrar Office that covers Jayanthi Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price and for sellers to set a competitive price for their property.

Frequently asked questions

What is the current guideline value of Jayanthi Nagar?

The current guideline value of Jayanthi Nagar is Rs 3,300 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 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 371% over the years.

What are the guideline values of other streets in Kolathur?

Other streets in Kolathur have varying guideline values, with Jayanthi Nagar Extension at Rs 5,500 per sq.ft and Jayammal Nagar at Rs 2,700 per sq.ft, among others.

What are the stamp duty and registration fees for property in Jayanthi Nagar?

The stamp duty for property in Jayanthi Nagar is 7%, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 2,97,000.

Which office handles property registrations for Jayanthi Nagar?

The Sembiam Sub Registrar Office handles property registrations for Jayanthi Nagar, located at 5, Papermills Road, Sembiam, Chennai - 600011.