Guideline Value for Jayaram Nagar 5th Street

Jayaram Nagar 5th Street guideline value

The current guideline value of Jayaram Nagar 5th 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 5th Street has changed

The guideline value for Jayaram Nagar 5th Street has seen significant changes over the years. In 2002, the value was Rs 85 per sq.ft. This increased to Rs 94 per sq.ft in 2003, marking an 11% rise. The value then surged dramatically to Rs 350 per sq.ft in 2007, reflecting a 272% increase. Following this, the value rose to Rs 2,000 per sq.ft in 2012, which was a substantial increase of 471%. However, the value dropped to Rs 1,340 per sq.ft in 2017, indicating a decrease of 33% from the previous revision.

From 2017 to 2023, the guideline value increased significantly to Rs 2,000 per sq.ft, a rise of 49%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, representing a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 2488%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Jayaram Nagar 5th Street at the median level.

• Jayaram Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 4th 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)
• Jayaram Nagar 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaram Nagar 5th 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, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayaram Nagar 5th Street?

The Sub Registrar Office that covers Jayaram Nagar 5th 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 plays a crucial role in property transactions in Nerkundram. It is used to determine the stamp duty and registration fees that need to be paid during the buying or selling process. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded correctly. This value is essential for calculating the applicable fees and ensuring that all parties involved are aware of the legal obligations associated with the property transfer.

Frequently asked questions

What is the current guideline value of Jayaram Nagar 5th Street?

The current guideline value of Jayaram Nagar 5th 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 changed significantly from Rs 85 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 2488%.

What is the land classification for Jayaram Nagar 5th Street?

Jayaram Nagar 5th Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Jayaram Nagar 5th Street?

The Sub Registrar Office for Jayaram Nagar 5th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Jayaram Nagar 5th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the stamp duty would be Rs 1,54,000.