Guideline Value for Jayaram Nagar

Jayaram Nagar guideline value

The current guideline value of Jayaram Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Somangalam village and falls under the Sriperumpudur SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Jayaram Nagar has changed

The guideline value for Jayaram Nagar has seen several revisions over the years. In 2012, the value was set at Rs 250 per sq.ft. This figure remained unchanged until the next revision in 2017, where it dropped to Rs 167 per sq.ft, marking a decrease of 33%. However, by 2023, the value increased by 50% to Rs 250 per sq.ft, which was maintained in the 2024 revision.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The most recent revision in 2024 again set the guideline value at Rs 250 per sq.ft, indicating no overall change from the 2012 level.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value of Rs 250 per sq.ft for Jayaram Nagar is below this median.

• Jayabalan Nagar: Rs 400 per sq.ft (2024)
• Jeyam Nagar: Rs 400 per sq.ft (2024)
• Kailashpuri Nagar: Rs 250 per sq.ft (2024)
• Indira Nagar Part II: Rs 200 per sq.ft (2024)
• Indira Nagar: Rs 400 per sq.ft (2024)
• Hi-tech city Extension: Rs 200 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 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total cost to Rs 22,500. 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 accurate calculations.

Which Sub Registrar Office covers Jayaram Nagar?

The Sub Registrar Office that covers Jayaram Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Somangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Jayaram Nagar?

The current guideline value of Jayaram Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, then increased back to Rs 250 per sq.ft in 2023 and remained the same in 2024.

What is the land classification for Jayaram Nagar?

The land classification for Jayaram Nagar is Residential Class II Type - I.

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

The Sub Registrar Office for Jayaram Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Jayaram Nagar?

Stamp duty for properties in Jayaram Nagar is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 17,500.