Guideline Value for Jayaram Nagar 19th Street

Jayaram Nagar 19th Street guideline value

The current guideline value for Jayaram Nagar 19th 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 19th Street has changed

The guideline value for Jayaram Nagar 19th Street has seen significant changes over the years. In 2002, the guideline value was Rs 85 per sq.ft. This increased to Rs 94 per sq.ft in 2003, marking an 11% rise. Subsequently, the value jumped to Rs 350 per sq.ft in 2007, reflecting a substantial increase of 272%. The value then rose dramatically to Rs 2,000 per sq.ft in 2012, a 471% increase from the previous revision. However, it decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33%. The value further increased to Rs 2,000 per sq.ft in 2023, which was a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Jayaram Nagar 19th Street is equal to this median.

• Jayaram Nagar 18th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 17th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 16th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 15th Street: Rs 2,200 per sq.ft (2024)
• Jayaram Nagar 14th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaram Nagar 19th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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 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 19th Street?

The Sub Registrar Office that covers Jayaram Nagar 19th 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. It serves as a benchmark for determining the registration fees and stamp duty payable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during property transactions.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction and helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value for Jayaram Nagar 19th Street?

The current guideline value for Jayaram Nagar 19th 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 19th Street?

The land classification for Jayaram Nagar 19th Street is Residential Class IV Type - I.

Where is the Sub Registrar Office for this area located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated in Nerkundram?

Stamp duty in Nerkundram is calculated based on the guideline value or the sale price of the property, whichever is higher. It is essential to consider the current guideline value when calculating the applicable fees.