Guideline Value for Jayavel Nagar

Jayavel Nagar guideline value

The current guideline value of Jayavel Nagar, located in Kathirvedu village under the Ambattur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - II land classification.

How the guideline value of Jayavel Nagar has changed

The guideline value for Jayavel Nagar has seen several revisions over the years. Starting from Rs 62 per sq.ft in 2002, it increased to Rs 80 per sq.ft in 2003, marking a 29% rise. The value then surged significantly to Rs 300 per sq.ft in 2007, reflecting a 275% increase. In 2012, the value remained at Rs 1,200 per sq.ft, indicating no figure for this street in that year. The next revision in 2017 saw a decrease to Rs 804 per sq.ft, which was a decline of 33%. Following this, the value rose to Rs 1,200 per sq.ft in 2023, and most recently, it has increased to Rs 1,300 per sq.ft in 2024, which is an 8% increase.

Overall, from 2002 to 2024, the guideline value has increased by a remarkable 1997%. The changes between the revisions highlight the fluctuations in property values over the years, with the most significant increase occurring between 2007 and 2012.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with the median being Rs 1,500 per sq.ft. The guideline value for Jayavel Nagar is below this median.

• John Victor Street: Rs 1,100 per sq.ft (2024)
• J.P. Nagar: Rs 2,200 per sq.ft (2024)
• J.P. Nagar Extension: Rs 2,200 per sq.ft (2024)
• Jai Maruthi Nagar Annex: Rs 2,700 per sq.ft (2024)
• Jai Maruthi Nagar: Rs 2,000 per sq.ft (2024)
• INTUC now Gomathiamman Nagar: Rs 1,742 per sq.ft (2024)

Stamp duty and registration fee for property in Jayavel Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Jayavel Nagar?

The Sub Registrar Office that covers Jayavel Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Kathirvedu, as it determines the minimum value at which property transactions are registered. This value is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately, reflecting the property's value in the official records.

Frequently asked questions

What is the current guideline value of Jayavel Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 62 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, marking a significant increase of 1997% over the years.

What is the land classification of Jayavel Nagar?

Jayavel Nagar falls under the Residential Class III Type - II land classification.

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

The Sub Registrar Office for Jayavel Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Jayavel Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 13,00,000 would incur a stamp duty of Rs 91,000 at 7%.