Guideline Value for Jayaram Nagar 13th Street

Jayaram Nagar 13th Street guideline value

The current guideline value for Jayaram Nagar 13th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Jayaram Nagar 13th Street has changed

Over the years, the guideline value for Jayaram Nagar 13th Street has seen significant changes. In the 2002 revision, the 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 dramatically to Rs 350 per sq.ft in 2007, reflecting a growth of 272%. Following this, the 2012 revision saw the value at Rs 2,000 per sq.ft, a substantial increase of 471% from the previous revision. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, which was a decline of 33%. The 2023 revision brought the value back up to Rs 2,000 per sq.ft, and the latest 2024 revision has set it at Rs 2,200 per sq.ft, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2488%. The register has no figures for the years not mentioned in the provided data.

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 is Rs 2,200 per sq.ft, which is the same as the current value for Jayaram Nagar 13th Street.

• Jayaram Nagar 12th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 14th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 15th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 10th 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 13th 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, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Jayaram Nagar 13th Street?

The Sub Registrar Office that covers Jayaram Nagar 13th 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. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory for legal documentation. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property sales.

Moreover, the guideline value helps in establishing a baseline for property prices in the area. Buyers and sellers can refer to these values to understand the market better and make informed decisions during property transactions.

Frequently asked questions

What is the current guideline value for Jayaram Nagar 13th Street?

The current guideline value for Jayaram Nagar 13th 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, with various revisions reflecting both increases and decreases over the years.

What is the land classification for Jayaram Nagar 13th Street?

The land classification for Jayaram Nagar 13th Street is Residential Class IV Type - I, indicating its designation for residential use.

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.

Which office handles registrations for Jayaram Nagar 13th Street?

The Virugambakkam Sub Registrar Office handles registrations for Jayaram Nagar 13th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.