Guideline Value for Jayaram Nagar 6th Street

Jayaram Nagar 6th Street guideline value

The current guideline value of Jayaram Nagar 6th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Jayaram Nagar 6th Street has changed

The guideline value for Jayaram Nagar 6th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 85 per sq.ft. This increased to Rs 94 per sq.ft in 2003, marking an increase of 11%. The value saw a significant rise to Rs 350 per sq.ft in 2007, which was an increase of 272%. In 2012, the value adjusted to Rs 2,000 per sq.ft, a decrease of 471%. The next revision in 2017 brought the value up to Rs 1,340 per sq.ft, which was a 49% increase. The 2023 revision set the value at Rs 2,000 per sq.ft, and the most recent revision in 2024 has established it at Rs 2,200 per sq.ft, reflecting a 10% increase.

There are no figures available for the years not listed in the register. The overall change from 2002 to 2024 shows an increase of 2,488% in the guideline value 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. The median guideline value for these streets is Rs 2,200 per sq.ft, which is the same as the current value for Jayaram Nagar 6th Street.

• Jayaram Nagar 5th 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 4th 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 6th 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, totaling 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 6th Street?

The Sub Registrar Office that covers Jayaram Nagar 6th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Nerkundram. It is used to determine the stamp duty and registration fees applicable when buying or selling property. This value is set by the government and reflects the minimum price at which property transactions are recognized for tax purposes.

When a buyer or seller enters into a transaction, the guideline value ensures that the property is registered at a fair price, which helps in maintaining transparency in real estate dealings. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Jayaram Nagar 6th Street?

The current guideline value for Jayaram Nagar 6th 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, reflecting an overall increase of 2,488% over the years.

What are the stamp duty and registration fees for property in Jayaram Nagar 6th Street?

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.

Which office handles registrations for Jayaram Nagar 6th Street?

The Virugambakkam Sub Registrar Office handles registrations for Jayaram Nagar 6th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Jayaram Nagar 6th Street?

Jayaram Nagar 6th Street falls under the Residential Class IV Type - I land classification.