Guideline Value for Jayaram Nagar

Jayaram Nagar guideline value

The current guideline value for Jayaram Nagar, located in Vellerithangal village under the Gooduvancheri SRO, is Rs 300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Jayaram Nagar has changed

Over the years, the guideline value of Jayaram Nagar has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 100 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, marking a 200% rise. However, in 2017, the value dropped to Rs 201 per sq.ft, which is a decrease of 33%. The value then increased to Rs 300 per sq.ft in 2023, and it remains the same in the 2024 revision, indicating no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 200%.

Guideline values in Vellerithangal

In Vellerithangal, there are 21 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 1,400 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Jayaram Nagar is below this median.

• Krishnamohana Nagar: Rs 400 per sq.ft (2024)
• Mahasakthi Raja Nagar: Rs 300 per sq.ft (2024)
• Mahasakthi Raja Nagar Extn-I & II: Rs 300 per sq.ft (2024)
• Devan Garden: Rs 400 per sq.ft (2024)
• D.A Colony Extn: Rs 400 per sq.ft (2024)
• DA Colony: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Jayaram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jayaram Nagar?

The Sub Registrar Office that covers Jayaram Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Vellerithangal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process aligns with the official valuation set by the government.

Frequently asked questions

What is the current guideline value of Jayaram Nagar?

The current guideline value of Jayaram Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 100 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then dropping to Rs 201 per sq.ft in 2017, and returning to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification for Jayaram Nagar?

The land classification for Jayaram Nagar is Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 27,000.

Where is the Sub Registrar Office for Jayaram Nagar located?

The Sub Registrar Office for Jayaram Nagar is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, in the Chengalpattu registration zone.