Guideline Value for Jayaram Nagar 17th Street

Jayaram Nagar 17th Street guideline value

The current guideline value of Jayaram Nagar 17th 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, with a land classification of Residential Class IV Type - I.

How the guideline value of Jayaram Nagar 17th Street has changed

The guideline value for Jayaram Nagar 17th Street has seen significant changes over the years. In 2002, the guideline 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 to Rs 350 per sq.ft in 2007, reflecting a 272% change. Following this, the value surged to Rs 2,000 per sq.ft in 2012, which was a remarkable 471% increase from the previous revision. However, it then decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 2,000 per sq.ft, representing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year. It is important to note that there are no figures available for the years not listed in the register for this street.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that carry a 2024 guideline value, 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 matches the current value of Jayaram Nagar 17th Street.

• Jayaram Nagar 16th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 18th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 15th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 19th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 14th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 13th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaram Nagar 17th 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, bringing the total fees together to 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 use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Jayaram Nagar 17th Street?

The Sub Registrar Office that covers Jayaram Nagar 17th 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 the registration process of property transactions in Nerkundram. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value is typically considered in these calculations.

When registering a property, the higher value between the sale price and the guideline value is taken into account for calculating the applicable duties and fees. This ensures that the registration reflects the appropriate financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Jayaram Nagar 17th Street?

The current guideline value of Jayaram Nagar 17th 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 increased from Rs 85 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 2488% over the years.

What is the land classification for Jayaram Nagar 17th Street?

Jayaram Nagar 17th Street is classified as Residential Class IV Type - I.

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

The Sub Registrar Office for Jayaram Nagar 17th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 1,98,000.