Guideline Value for Jayaraj Nagar

Jayaraj Nagar guideline value

The current guideline value of Jayaraj Nagar, located in Vilangadupakkam village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Jayaraj Nagar has changed

The guideline value for Jayaraj Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in 2012, marking a 100% increase. However, in 2017, the value dropped to Rs 268 per sq.ft, a decrease of 33%. The value then rose significantly to Rs 400 per sq.ft in 2023, followed by a further increase to Rs 440 per sq.ft in 2024, representing a 10% increase.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft. The median value is Rs 440 per sq.ft, which is equal to the guideline value of Jayaraj Nagar.

• Jaya Ganapathy Street: Rs 440 per sq.ft (2024)
• J.H.Avenue: Rs 600 per sq.ft (2024)
• Kalaignar Nagar: Rs 770 per sq.ft (2024)
• Kalaignar Nagar (S.No.260): Rs 440 per sq.ft (2024)
• Kalikambal Nagar Phase - II: Rs 440 per sq.ft (2024)
• Kamarajar Nagar: Rs 440 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total charges together to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Jayaraj Nagar?

The Sub Registrar Office covering Jayaraj Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vilangadupakkam. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the government.

When a property is sold, the guideline value is used to assess the applicable charges. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Jayaraj Nagar?

The current guideline value of Jayaraj Nagar is Rs 440 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 440 per sq.ft in 2024, which represents an overall increase of 120% over the years.

What is the land classification for Jayaraj Nagar?

Jayaraj Nagar is classified as Residential Class III Type - I, which indicates the type of development allowed in the area.

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

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Where is the Sub Registrar Office for Jayaraj Nagar located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.