Guideline Value for Jeeni Nagar

Jeeni Nagar guideline value

The current guideline value of Jeeni Nagar, located in Vellaputhoor village under the Madurandakam SRO, is Rs 103 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Jeeni Nagar has changed

The guideline value for Jeeni Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 50 per sq.ft, which increased to Rs 100 per sq.ft in 2012. However, this figure decreased by 33% to Rs 67 per sq.ft in 2017. Following that, there was a significant increase of 49% to Rs 100 per sq.ft in 2023, and the latest revision in 2024 sees a further increase of 3% to Rs 103 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 106%. The changes between the revisions highlight the fluctuations in the guideline value over the years, with notable increases in recent years.

Guideline values in Vellaputhoor

In Vellaputhoor, there are seven streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 103 per sq.ft. The median value for these streets is Rs 103 per sq.ft, which is equal to the current guideline value for Jeeni Nagar.

• Jeeni Nagar Fam: Rs 103 per sq.ft (2024)
• Kamatchi Garden: Rs 103 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 103 per sq.ft (2024)
• Om Sakthi Nagar: Rs 103 per sq.ft (2024)
• A1-Metro City: Rs 103 per sq.ft (2024)
• Sun City Varadharajan Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Jeeni Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft, the total guideline value would be Rs 1,03,000. The stamp duty at 7% would amount to Rs 7,210, and the registration fee at 2% would be Rs 2,060, bringing the total to Rs 9,270. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jeeni Nagar?

The Sub Registrar Office that covers Jeeni Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Vellaputhoor. It serves as a benchmark for determining the minimum value at which property transactions can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay during the registration process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Jeeni Nagar?

The current guideline value of Jeeni Nagar is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 103 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Jeeni Nagar?

Jeeni Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.

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

The Sub Registrar Office for Jeeni Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 103 per sq.ft would incur a total stamp duty and registration fee of Rs 9,270.