Guideline Value for Jayaram Nagar 14th Street

Jayaram Nagar 14th Street guideline value

The current guideline value of Jayaram Nagar 14th 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 14th Street has changed

The guideline value for Jayaram Nagar 14th Street has seen significant changes over the years. In 2002, the value was Rs 85 per sq.ft, which rose to Rs 94 per sq.ft in 2003, marking an increase of 11%. The value then surged dramatically to Rs 350 per sq.ft in 2007, reflecting a substantial increase of 272%. Following this, the value saw a remarkable rise to Rs 2,000 per sq.ft in 2012, which was a 471% increase from the previous revision. However, in 2017, the value dropped to Rs 1,340 per sq.ft, indicating a decrease of 33%.

From 2017 to 2023, the guideline value increased significantly to Rs 2,000 per sq.ft, a rise of 49%. The latest revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 2,488%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Jayaram Nagar 14th Street.

• Jayaram Nagar 13th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 15th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 12th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 16th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 17th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaram Nagar 14th 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, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Jayaram Nagar 14th Street?

The Sub Registrar Office that covers Jayaram Nagar 14th 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 buying or selling property in Nerkundram, as it determines the minimum price at which the property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. The registration office relies on the guideline value to assess the appropriate fees and taxes applicable to the property transaction.

Frequently asked questions

What is the current guideline value of Jayaram Nagar 14th Street?

The current guideline value of Jayaram Nagar 14th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much 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 14th 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 Sub Registrar Office covers Jayaram Nagar 14th Street?

The Virugambakkam Sub Registrar Office covers Jayaram Nagar 14th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined in Nerkundram?

The guideline value in Nerkundram is determined based on various factors, including land classification and previous revision figures. It serves as a reference point for property transactions in the area.