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Guideline Value

Corporate

Guideline Value for Jayaram Nagar 1st Main Road

₹2200/sq.ft.

The guideline value for Jayaram Nagar 1st Main Road in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹350 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹94 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹85 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Jayaram Nagar 1st Main Road

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Jayaram Nagar 1st Main Road guideline value

The current guideline value of Jayaram Nagar 1st Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Jayaram Nagar 1st Main Road has changed

The guideline value for Jayaram Nagar 1st Main Road has undergone several revisions over the years. In 2002, the value was Rs 85 per sq.ft, which increased to Rs 94 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 350 per sq.ft in 2007. The 2012 revision marked a drop to Rs 2,000 per sq.ft, but this was followed by a substantial increase to Rs 1,340 per sq.ft in 2017. The value then rose to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft.

Overall, the changes between these revisions show a notable increase. From 2002 to 2024, the guideline value has increased by 2,488%. The change from 2023 to 2024 reflects a 10% increase, while the jump from 2017 to 2023 represents a 49% increase. The 2012 to 2017 revision saw a decrease of 33%, and the 2007 to 2012 revision marked a remarkable increase of 471%. The value rose by 272% from 2003 to 2007, and from 2002 to 2003, it increased by 11%. There are no figures available for other years for this street.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft in 2024. The median value for these streets is Rs 2,200 per sq.ft, which aligns with the current guideline value for Jayaram Nagar 1st Main Road.

Stamp duty and registration fee for property in Jayaram Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, bringing the total fees together to 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayaram Nagar 1st Main Road?

The Sub Registrar Office that covers Jayaram Nagar 1st Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

When buying or selling property in Nerkundram, the guideline value is a critical factor during the registration process. It serves as a reference for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

This ensures that the government collects the appropriate taxes on property transactions. Buyers and sellers should be aware of the current guideline value to accurately estimate their costs associated with property registration.

Frequently asked questions

What is the current guideline value of Jayaram Nagar 1st Main Road?

The current guideline value of Jayaram Nagar 1st Main Road 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 changed significantly from Rs 85 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2,488% over this period.

What is the land classification for Jayaram Nagar 1st Main Road?

Jayaram Nagar 1st Main Road is classified as Residential Class IV Type - I.

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

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.

Where is the Sub Registrar Office for Jayaram Nagar 1st Main Road located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.