Guideline Value for Jayaprakash Narayan Nagar

Jayaprakash Narayan Nagar guideline value

The current guideline value of Jayaprakash Narayan Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village, under the Selaiyur SRO, classified as Residential Class II Type - I.

How the guideline value of Jayaprakash Narayan Nagar has changed

Over the years, the guideline value of Jayaprakash Narayan Nagar has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. The 2024 revision has increased the value to Rs 1,600 per sq.ft, marking a significant rise of 59% from the 2017 figure. Overall, from 2012 to 2024, the value has increased by 7%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street. This lack of data means that we only have the figures from 2012, 2017, and 2024 to assess the changes in guideline value.

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, with a median value of Rs 2,400 per sq.ft. The guideline value for Jayaprakash Narayan Nagar is below this median.

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

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 charges together to Rs 1,44,000. It is essential to note that the stamp duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayaprakash Narayan Nagar?

The Sub Registrar Office that covers Jayaprakash Narayan Nagar 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. For more information, you can find your SRO.

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

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

When buying or selling property, the guideline value is essential for both parties to understand the financial implications of the transaction. It is advisable to refer to the latest guideline values to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value for Jayaprakash Narayan Nagar?

The current guideline value for Jayaprakash Narayan Nagar 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 reflects a 59% increase from 2017 to 2024 and an overall increase of 7% from 2012 to 2024.

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

For a property valued at the current guideline value of Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for Jayaprakash Narayan Nagar?

The Selaiyur Sub Registrar Office is responsible for Jayaprakash Narayan Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Jayaprakash Narayan Nagar?

Jayaprakash Narayan Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.