Guideline Value for Jayapriya Nagar

Jayapriya Nagar guideline value

The current guideline value of Jayapriya Nagar, located in Kolapakkam village under the Pammal SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Jayapriya Nagar has changed

The guideline value for Jayapriya Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. From 2017 to 2023, this marks a significant increase of 49%. The latest revision in 2024 has raised the guideline value further to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the guideline value of Jayapriya Nagar.

• Kakkanji Street: Rs 1,650 per sq.ft (2024)
• Kamatchi Amman Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Kamatchi Nagar: Rs 2,200 per sq.ft (2024)
• Good Will Avenue: Rs 2,200 per sq.ft (2024)
• Karumariamman Nagar: Rs 2,200 per sq.ft (2024)
• Gimberly Garden: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jayapriya Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information on fees applicable to your property transaction.

Which Sub Registrar Office covers Jayapriya Nagar?

The Sub Registrar Office that covers Jayapriya Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolapakkam. 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.

When buying or selling property, the guideline value is compared with the sale price, and the higher of the two values is used to calculate the applicable stamp duty. This ensures that both the buyer and seller adhere to the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Jayapriya Nagar?

The current guideline value of Jayapriya Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over the seven-year period.

What is the land classification of Jayapriya Nagar?

Jayapriya Nagar is classified as Residential Class II Type - I, indicating its designation for residential use.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers the registration for Jayapriya Nagar?

The Pammal Sub Registrar Office covers the registration for Jayapriya Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.