Guideline Value for Jerusalem Nagar

Jerusalem Nagar guideline value

The current guideline value for Jerusalem Nagar, located in Irumpuliyur village, is Rs 2,530 per sq.ft, effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Jerusalem Nagar has changed

The guideline value for Jerusalem Nagar has seen significant changes over the years. In 2007, the value was Rs 650 per sq.ft, which increased to Rs 2,300 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 1,541 per sq.ft. The value then rose to Rs 2,300 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 2,530 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, followed by a further 10% increase from 2023 to 2024. The overall change from 2007 to 2024 reflects a remarkable increase of 289% in the guideline value per sq.ft.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which means that Jerusalem Nagar's current rate is above this median.

• Jerusalam NagarExt: Rs 2,200 per sq.ft (2024)
• Jerusalem Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Jerusalem Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Jerusalem Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Jerusalem Nagar (Joseph Street): Rs 2,530 per sq.ft (2024)
• Jeruselam Nagar Nehru Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jerusalem Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is important to note that the 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 information.

Which Sub Registrar Office covers Jerusalem Nagar?

The Sub Registrar Office that covers Jerusalem Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jerusalem Nagar?

The current guideline value of Jerusalem Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 650 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, with various revisions in between.

What is the land classification of Jerusalem Nagar?

Jerusalem Nagar is classified as Residential Special Type - I under the current guidelines.

What are the stamp duty and registration fees for properties in Jerusalem Nagar?

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Where is the Sub Registrar Office for Jerusalem Nagar located?

The Sub Registrar Office for Jerusalem Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.