Guideline Value for Jayaprakash Nagar

Jayaprakash Nagar guideline value

The current guideline value of Jayaprakash Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - III.

How the guideline value of Jayaprakash Nagar has changed

The guideline value for Jayaprakash Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a rise of 500%. However, it then decreased to Rs 804 per sq.ft in 2017, a reduction of 33%. The value saw a substantial increase to Rs 1,200 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a significant increase of 560%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft, with a median value of Rs 1,215 per sq.ft. The guideline value of Rs 1,320 per sq.ft for Jayaprakash Nagar is above this median.

• Jaya Nagar Extn M.G.R. Street: Rs 2,200 per sq.ft (2024)
• Jayaram Avenue: Rs 990 per sq.ft (2024)
• Jaya Nagar Extension M.G.R. Street: Rs 2,200 per sq.ft (2024)
• Jeyam Avenue: Rs 990 per sq.ft (2024)
• Jothiram Avenue: Rs 990 per sq.ft (2024)
• Indrani Ramachandran Avenue: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaprakash Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Jayaprakash Nagar?

The Sub Registrar Office that covers Jayaprakash Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mannivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented at a value that reflects the current market conditions.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the actual sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jayaprakash Nagar?

The current guideline value of Jayaprakash Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the land classification for Jayaprakash Nagar?

The land classification for Jayaprakash Nagar is Residential Special Type - III.

What are the stamp duty and registration fees for properties in Jayaprakash Nagar?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would be Rs 1,18,800.

Which Sub Registrar Office serves Jayaprakash Nagar?

The Gooduvancheri Sub Registrar Office serves Jayaprakash Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.