Guideline Value for Jeevarathina Naicker Nagar

Jeevarathina Naicker Nagar guideline value

The current guideline value of Jeevarathina Naicker Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Ayappakkam village under the Ambattur SRO, classified as Residential Class I Type - II.

How the guideline value of Jeevarathina Naicker Nagar has changed

The guideline value for Jeevarathina Naicker Nagar has undergone several revisions over the years. In 2003, the value was Rs 80 per sq.ft, which increased to Rs 400 per sq.ft in 2007. The value saw a significant jump to Rs 1,000 per sq.ft in 2012, followed by a decrease to Rs 670 per sq.ft in 2017. The 2023 revision brought the value back to Rs 1,000 per sq.ft, and the most recent revision in 2024 set it at Rs 1,100 per sq.ft.

Between the revisions, notable changes include a 400% increase from 2003 to 2007, a 150% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023. The increase from 2023 to 2024 is 10%. Overall, from 2003 to 2024, the guideline value has increased by 1275%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a guideline value for 2024, ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,300 per sq.ft. Jeevarathina Naicker Nagar's 2024 figure is below this median.

• Jeevarathina street(iyappan nagar extn): Rs 1,700 per sq.ft (2024)
• Jaya Sakthi Nagar: Rs 1,100 per sq.ft (2024)
• Jayaram Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Jayaram Street: Rs 1,600 per sq.ft (2024)
• JK Avenue: Rs 3,300 per sq.ft (2024)
• Jayaram Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Jeevarathina Naicker Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 Jeevarathina Naicker Nagar?

The Sub Registrar Office covering Jeevarathina Naicker 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 Ayappakkam

The guideline value is an essential factor in property transactions, as it determines the base value for calculating stamp duty and registration fees. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for duty calculations.

When registering a property, it is crucial to ensure that the guideline value is correctly reflected in the documentation. This helps in avoiding any legal issues and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Jeevarathina Naicker Nagar?

The current guideline value of Jeevarathina Naicker Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 80 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Jeevarathina Naicker Nagar?

Jeevarathina Naicker Nagar is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Jeevarathina Naicker Nagar?

The Sub Registrar Office for Jeevarathina Naicker 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 the stamp duty calculated for properties in Jeevarathina Naicker Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.