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 street is located in Somangalam_B village under the Sriperumpudur SRO, classified as 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 the 2017 revision, the value was set at Rs 167 per sq.ft. This figure remained unchanged in the subsequent 2023 revision, which also recorded Rs 250 per sq.ft. The most recent 2024 revision has maintained this value at Rs 250 per sq.ft, resulting in no percentage change from 2023 to 2024. Overall, from 2017 to 2024, the guideline value has increased by 50%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The 2017 revision marked a significant change with a 50% increase compared to the previous figure.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, making Jayaram Nagar's 2024 figure equal to 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 rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty is calculated at 7%, totaling Rs 17,500, while the registration fee at 2% comes to Rs 5,000. Together, these fees amount to Rs 22,500. 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 details.

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_B

The guideline value is a critical factor when buying or selling property in Somangalam_B. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must ensure that the property is registered at the guideline value or the sale price, whichever is higher.

When engaging in property transactions, understanding the guideline value helps in assessing the costs involved. It is advisable to refer to the latest revisions to ensure compliance with the legal requirements during registration.

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 remained at Rs 250 per sq.ft from 2023 to 2024, with a 50% increase from Rs 167 per sq.ft in 2017 to the current rate.

What are the other streets in Somangalam_B?

Other streets in Somangalam_B include Jayabalan Nagar, Jeyam Nagar, Kailashpuri Nagar, Indira Nagar Part II, Indira Nagar, and Hi-tech city Extension, with varying guideline values.

What is the registration fee for property in Jayaram Nagar?

The registration fee for property in Jayaram Nagar is calculated at 2% of the guideline value. For a plot valued at Rs 2,50,000, the fee would be Rs 5,000.

Where is the Sub Registrar Office for Jayaram Nagar located?

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