Guideline Value for Jayaram Nagar 10th Street

Jayaram Nagar 10th Street guideline value

The current guideline value of Jayaram Nagar 10th 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 is classified as Residential Class IV Type - I.

How the guideline value of Jayaram Nagar 10th Street has changed

The guideline value for Jayaram Nagar 10th Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 85 per sq.ft. It increased to Rs 94 per sq.ft in 2003, followed by a significant rise to Rs 350 per sq.ft in 2007. The 2012 revision saw the value return to Rs 2,000 per sq.ft, but it dropped to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 2,200 per sq.ft.

Changes between these revisions were notable. From 2002 to 2003, the increase was +11%. The jump from 2003 to 2007 was +272%. The value then surged by +471% from 2007 to 2012. However, from 2012 to 2017, there was a decrease of -33%. The value increased by +49% from 2017 to 2023, and finally, there was a +10% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +2488%.

Guideline values in Nerkundram

Nerkundram village has 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 is Rs 2,200 per sq.ft, which is the same as the current value for Jayaram Nagar 10th Street.

• Jayaram Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 12th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 13th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 14th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 15th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 16th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaram Nagar 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration 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 10th Street?

The Sub Registrar Office that covers Jayaram Nagar 10th 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 a property in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jayaram Nagar 10th Street?

The current guideline value of Jayaram Nagar 10th 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 +2488% over the years.

What is the land classification for Jayaram Nagar 10th Street?

Jayaram Nagar 10th Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers Jayaram Nagar 10th Street.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 1,98,000 in fees.