Guideline Value for Jayaram Nagar Extn

Jayaram Nagar Extn guideline value

The current guideline value of Jayaram Nagar Extn is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Kerugambakkam village, falling under the Pammal SRO with a land classification of Residential Class I Type - I.

How the guideline value of Jayaram Nagar Extn has changed

The guideline value for Jayaram Nagar Extn has undergone several revisions over the years. The oldest recorded revision is from 2017, where the value was set at Rs 1,675 per sq.ft. This figure increased to Rs 2,500 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Jayaram Nagar Extn's 2024 figure above this median.

• Jayaram Nagar: Rs 2,750 per sq.ft (2024)
• Kadumpadi Amman Koil Street: Rs 1,760 per sq.ft (2024)
• Kakkanji Street: Rs 1,100 per sq.ft (2024)
• Kalaigar Street: Rs 1,980 per sq.ft (2024)
• Indira Gandhi Street: Rs 1,980 per sq.ft (2024)
• Kalaivanar Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaram Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. 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 Extn?

The Sub Registrar Office that covers Jayaram Nagar Extn is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kerugambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Kerugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the official valuation of the property, which can impact the overall costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Jayaram Nagar Extn?

The current guideline value of Jayaram Nagar Extn is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, representing an overall increase of 64% over this period.

What are the other streets in Kerugambakkam with their guideline values?

Other streets in Kerugambakkam include Jayaram Nagar at Rs 2,750 per sq.ft, Kadumpadi Amman Koil Street at Rs 1,760 per sq.ft, and Kakkanji Street at Rs 1,100 per sq.ft, among others.

How is stamp duty calculated for properties in Jayaram Nagar Extn?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.

Where can I find the Sub Registrar Office for Jayaram Nagar Extn?

The Sub Registrar Office for Jayaram Nagar Extn is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.