Guideline Value for Jayaraj Nagar

Jayaraj Nagar guideline value

The current guideline value of Jayaraj Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Chinnapanicheri village and falls under the Kunrathur SRO, classified as Residential Class I Type - II.

How the guideline value of Jayaraj Nagar has changed

Over the years, the guideline value of Jayaraj Nagar has seen several revisions. The earliest recorded revision was in 2007, where the value was Rs 200 per sq.ft. This increased to Rs 500 per sq.ft in 2012, but saw a decrease to Rs 335 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 500 per sq.ft, and the latest revision in 2024 has set it at Rs 550 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

From 2007 to 2024, the overall increase in the guideline value is 175%. The changes between the revisions are notable as well: from 2007 to 2012, there was a significant increase of 150%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, a 10% increase was recorded from 2023 to 2024.

Guideline values in Chinnapanicheri

In Chinnapanicheri village, there are 14 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft, with a median value of Rs 675 per sq.ft. The guideline value of Jayaraj Nagar is below this median.

• Kothai Avenue: Rs 1,650 per sq.ft (2024)
• Leelavathy Nagar: Rs 800 per sq.ft (2024)
• Leelavathy Nagar Annexe: Rs 800 per sq.ft (2024)
• Mari Amman Koil Street: Rs 550 per sq.ft (2024)
• Moogambigai Nagar: Rs 800 per sq.ft (2024)
• Muthu Mari Amman Koil Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaraj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. 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 details.

Which Sub Registrar Office covers Jayaraj Nagar?

The Sub Registrar Office that covers Jayaraj Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Chinnapanicheri. 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, both the buyer and seller must consider the guideline value to ensure compliance with legal requirements. The registration process will require that the transaction value is at least equal to the guideline value, helping to maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Jayaraj Nagar?

The current guideline value of Jayaraj Nagar is Rs 550 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 550 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the median guideline value in Chinnapanicheri?

The median guideline value in Chinnapanicheri is Rs 675 per sq.ft, with Jayaraj Nagar's value being below this median.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would be Rs 49,500.

Which office handles property registrations for Jayaraj Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Jayaraj Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.