Guideline Value for Jei Bharath Nagar

Jei Bharath Nagar guideline value

The current guideline value of Jei Bharath Nagar, located in Sokandi village under the Sunguvarchattram SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Jei Bharath Nagar has changed

Over the years, the guideline value of Jei Bharath Nagar has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 250 per sq.ft. The 2017 revision saw a decrease to Rs 167 per sq.ft, marking a 33% drop from the previous figure. However, from 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 250 per sq.ft.

As of the 2024 revision, the guideline value remains at Rs 250 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Sokandi

Sokandi village consists of 35 streets under the Sunguvarchattram SRO, with the 2024 guideline values ranging from Rs 181 to Rs 1,000 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing the guideline value of Jei Bharath Nagar below this median.

• Jai Hind Nagar: Rs 200 per sq.ft (2024)
• Gandni Puram: Rs 275 per sq.ft (2024)
• Kuzhandai Easu Nagar: Rs 275 per sq.ft (2024)
• Dhanraj Nagar: Rs 500 per sq.ft (2024)
• Mariamman Kovil Street: Rs 200 per sq.ft (2024)
• MathaKovil Street: Rs 450 per sq.ft (2024)

Stamp duty and registration fee for property in Jei Bharath Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jei Bharath Nagar?

The Sub Registrar Office that covers Jei Bharath Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Sokandi. It is used to determine the stamp duty and registration fees that buyers need to pay when purchasing a property. The guideline value is established by the Registration Department and reflects the minimum value for property transactions in the area.

When selling a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Jei Bharath Nagar?

The current guideline value of Jei Bharath Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the 2017 revision dropping to Rs 167 per sq.ft, followed by a return to Rs 250 per sq.ft in 2023 and 2024, indicating stability in the most recent years.

What are the other streets in Sokandi and their guideline values?

Other streets in Sokandi include Jai Hind Nagar at Rs 200 per sq.ft, Gandni Puram and Kuzhandai Easu Nagar at Rs 275 per sq.ft, Dhanraj Nagar at Rs 500 per sq.ft, Mariamman Kovil Street at Rs 200 per sq.ft, and MathaKovil Street at Rs 450 per sq.ft.

What is the registration fee for property in Jei Bharath Nagar?

The registration fee for property in Jei Bharath Nagar is 2% of the guideline value. For example, on a property valued at Rs 2,50,000, the registration fee would be Rs 5,000.

Where can I find the Sub Registrar Office for Jei Bharath Nagar?

The Sub Registrar Office for Jei Bharath Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find more information on how to locate your SRO online.