Guideline Value for Jayes Nagar

Jayes Nagar guideline value

The current guideline value of Jayes Nagar, located in Kovilpathagai village under the Ambattur SRO, is Rs 806 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Jayes Nagar has changed

The guideline value for Jayes Nagar has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 600 per sq.ft. This increased to Rs 402 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly by 100%, bringing it to Rs 806 per sq.ft. The current revision in 2024 maintains this value at Rs 806 per sq.ft, indicating no change from the previous year.

It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 34%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing Jayes Nagar's 2024 figure below that median.

• Jeniwa Nagar: Rs 807 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 803 per sq.ft (2024)
• Jashmine Gorden: Rs 807 per sq.ft (2024)
• Jashmine Gordan -2 Thomas 1st Street 2nd Street: Rs 807 per sq.ft (2024)
• Jashmine Gordan -1: Rs 807 per sq.ft (2024)
• Jagan Mohan Nagar: Rs 806 per sq.ft (2024)

Stamp duty and registration fee for property in Jayes Nagar

For a 1,000 sq.ft plot at the current rate of Rs 806 per sq.ft, the guideline value amounts to Rs 8,06,000. The stamp duty, calculated at 7%, is Rs 56,420, while the registration fee at 2% is Rs 16,120, bringing the total to Rs 72,540. 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 details.

Which Sub Registrar Office covers Jayes Nagar?

The Sub Registrar Office that covers Jayes 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 Kovilpathagai

The guideline value plays a crucial role in the registration process when buying or selling property in Kovilpathagai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the registration process is transparent and fair, reflecting the official valuation of the property.

Frequently asked questions

What is the current guideline value of Jayes Nagar?

The current guideline value of Jayes Nagar is Rs 806 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 806 per sq.ft in 2024, with notable increases in 2017 and 2023.

What is the classification of land in Jayes Nagar?

Jayes Nagar is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Jayes Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

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

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