Guideline Value for Jayaprakash Narayan Nagar Main Road

Jayaprakash Narayan Nagar Main Road guideline value

The current guideline value of Jayaprakash Narayan Nagar Main Road is Rs 1,600 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Jayaprakash Narayan Nagar Main Road has changed

The guideline value for Jayaprakash Narayan Nagar Main Road has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to the latest revision in 2024, the value increased by 59%, bringing it to Rs 1,600 per sq.ft.

Overall, comparing the figures from 2012 to 2024, there has been a slight increase of 7%. Notably, the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for the area is Rs 2,400 per sq.ft, making the current value of Rs 1,600 per sq.ft for Jayaprakash Narayan Nagar Main Road below the median.

• Jayaprakash Narayan Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Jayaprakash Narayan Nagar 1st Street: Rs 1,600 per sq.ft (2024)
• Jayaprakash Narayan Nagar 1st Main Road: Rs 1,600 per sq.ft (2024)
• Jayaprakash Narayan Nagar: Rs 1,600 per sq.ft (2024)
• Jegajeevanram Street: Rs 1,600 per sq.ft (2024)
• Jegavanthapuram: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaprakash Narayan Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. 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 Jayaprakash Narayan Nagar Main Road?

The Sub Registrar Office that covers Jayaprakash Narayan Nagar Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when acquiring property in the area.

When selling property, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This ensures that the transaction is documented accurately and that the government receives the appropriate fees based on the property's value.

Frequently asked questions

What is the current guideline value of Jayaprakash Narayan Nagar Main Road?

The current guideline value of Jayaprakash Narayan Nagar Main Road is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2024. This represents a 59% increase from 2017 to 2024 and an overall increase of 7% from 2012 to 2024.

What is the land classification for Jayaprakash Narayan Nagar Main Road?

The land classification for Jayaprakash Narayan Nagar Main Road is Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, on a 1,000 sq.ft plot valued at Rs 1,600 per sq.ft, the total fees would be Rs 1,44,000.

Which office handles property registrations in Madambakkam?

The Selaiyur Sub Registrar Office handles property registrations in Madambakkam. It is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.