Guideline Value for Jayashree Nagar

Jayashree Nagar guideline value

The current guideline value of Jayashree Nagar, located in Old Gummidipoondi village under the Gummidipoondi SRO, is Rs 220 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class V Type - III land classification.

How the guideline value of Jayashree Nagar has changed

The guideline value for Jayashree Nagar has undergone several revisions over the years. In 2002, the value was Rs 42 per sq.ft, which increased to Rs 48 per sq.ft in 2003, marking a 14% rise. The value then saw a significant increase of 108% to reach Rs 100 per sq.ft in 2007. Following this, the value doubled to Rs 200 per sq.ft in 2012, but then decreased by 33% to Rs 134 per sq.ft in 2017. The value rose again to Rs 200 per sq.ft in 2023, and most recently, it increased by 10% to the current rate of Rs 220 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 424%. There are no figures available for the revisions in the years not mentioned in the register for this street.

Guideline values in Old Gummidipoondi

In Old Gummidipoondi, there are 90 streets under the Gummidipoondi SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,210 per sq.ft, with a median value of Rs 660 per sq.ft. Jayashree Nagar's current value is below this median.

• Jaihind Nagar Main Road: Rs 660 per sq.ft (2024)
• Jai Hind Nagar Ist Street Ward No.13 Door No.1-8: Rs 660 per sq.ft (2024)
• Jaihind Nagar 6th Street: Rs 660 per sq.ft (2024)
• Jaihind Nagar 5th Street: Rs 660 per sq.ft (2024)
• Jaihind Nagar 4th Street: Rs 660 per sq.ft (2024)
• Jaihind Nagar 3rd Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Jayashree Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, while the registration fee at 2% would be Rs 4,400, bringing the total to Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jayashree Nagar?

The Sub Registrar Office that covers Jayashree Nagar is the Gummidipoondi Sub Registrar Office, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone. To find your specific SRO, you can find your SRO here.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Old Gummidipoondi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during property transactions.

When registering a property, the guideline value is used to calculate the applicable fees. It is essential to note that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Jayashree Nagar?

The current guideline value of Jayashree Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 42 per sq.ft in 2002 to Rs 220 per sq.ft in 2024, showing an overall increase of 424% across various revisions.

What is the land classification of Jayashree Nagar?

Jayashree Nagar is classified under Residential Class V Type - III, indicating its designation for residential use.

Where can I find the Gummidipoondi Sub Registrar Office?

The Gummidipoondi Sub Registrar Office is located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone.

How is the stamp duty calculated for properties in Jayashree Nagar?

Stamp duty for properties in Jayashree Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 15,400.