Guideline Value for Jayaram Nagar 16th Street

Jayaram Nagar 16th Street guideline value

The current guideline value of Jayaram Nagar 16th 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 16th Street has changed

The guideline value for Jayaram Nagar 16th Street has seen significant changes over the years. In 2002, the value was Rs 85 per sq.ft, which increased to Rs 94 per sq.ft in 2003, marking an 11% rise. The value then experienced a substantial increase of 272% to reach Rs 350 per sq.ft in 2007. Following this, the value surged by 471% to Rs 2,000 per sq.ft in 2012. However, it then dropped by 33% to Rs 1,340 per sq.ft in 2017. The value further increased by 49% to Rs 2,000 per sq.ft in 2023, and finally, it rose by 10% to the current figure of Rs 2,200 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 2488%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Jayaram Nagar 16th Street at the median value for 2024.

• Jayaram Nagar 15th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 17th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 14th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 18th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 13th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 19th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaram Nagar 16th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, making the total cost for these fees 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayaram Nagar 16th Street?

The Sub Registrar Office that covers Jayaram Nagar 16th 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 serves as a benchmark for determining the minimum value of a property during registration. Buyers and sellers must consider this value to ensure compliance with legal requirements when registering property transactions.

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

Frequently asked questions

What is the current guideline value of Jayaram Nagar 16th Street?

The current guideline value of Jayaram Nagar 16th 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 are the other streets in Nerkundram with the same guideline value?

Other streets in Nerkundram with the same guideline value of Rs 2,200 per sq.ft for 2024 include Jayaram Nagar 15th Street, Jayaram Nagar 17th Street, Jayaram Nagar 14th Street, Jayaram Nagar 18th Street, Jayaram Nagar 13th Street, and Jayaram Nagar 19th Street.

What are the fees associated with buying property in Jayaram Nagar 16th Street?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Jayaram Nagar 16th Street?

The Virugambakkam Sub Registrar Office covers Jayaram Nagar 16th Street and is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.