Guideline Value for Jayaram Nagar 4th Street

Jayaram Nagar 4th Street guideline value

The current guideline value of Jayaram Nagar 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Jayaram Nagar 4th Street has changed

The guideline value for Jayaram Nagar 4th Street has seen several revisions over the years. In 2002, the guideline value was Rs 85 per sq.ft, which increased to Rs 94 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 350 per sq.ft in 2007, reflecting a 272% increase. Following this, the value surged to Rs 2,000 per sq.ft in 2012, a remarkable increase of 471%. However, in 2017, the value decreased to Rs 1,340 per sq.ft, which was a decline of 33%. The guideline value then increased to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,200 per sq.ft, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2,488%. The register has no figure for the years not mentioned in the revisions.

Guideline values in Nerkundram

Nerkundram 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 as of 2024. The median guideline value in this area is Rs 2,200 per sq.ft, which is the same as the current value for Jayaram Nagar 4th Street.

• Jayaram Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 9th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaram Nagar 4th Street

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, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jayaram Nagar 4th Street?

The Sub Registrar Office that covers Jayaram Nagar 4th Street 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

The guideline value is a crucial factor when registering property in Nerkundram. It determines the minimum value at which a property can be registered, impacting the stamp duty and registration fees that need to be paid. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for taxation purposes. It ensures that the government receives appropriate revenue from property transactions, reflecting the official value of the property being transferred.

Frequently asked questions

What is the current guideline value of Jayaram Nagar 4th Street?

The current guideline value of Jayaram Nagar 4th Street 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 significantly from Rs 85 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 2,488% over this period.

What is the land classification for Jayaram Nagar 4th Street?

Jayaram Nagar 4th Street is classified as Residential Class IV Type - I.

Where is the Sub Registrar Office for Jayaram Nagar 4th Street located?

The Sub Registrar Office for Jayaram Nagar 4th Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is 2% of the guideline value. These fees are based on the higher of the guideline value or the sale price of the property.