Guideline Value for Jesvanth Nagar Part II

Jesvanth Nagar Part II guideline value

The current guideline value of Jesvanth Nagar Part II is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is located in Mugappair village and falls under the Konnur SRO, classified as Residential Special Type - I.

How the guideline value of Jesvanth Nagar Part II has changed

The guideline value for Jesvanth Nagar Part II has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 1,200 per sq.ft. This increased significantly to Rs 6,500 per sq.ft in 2012, marking a substantial rise of 442%. However, from 2012 to 2017, the value decreased to Rs 4,355 per sq.ft, a drop of 33%. The value then rose to Rs 6,500 per sq.ft in 2023, reflecting a 49% increase from the previous revision.

As of the 2024 revision, the guideline value stands at Rs 7,100 per sq.ft, which is a 9% increase from the 2023 figure. Overall, from the 2007 revision to the current 2024 revision, there has been a significant increase of 492% in the guideline value.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO with a 2024 guideline value range from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, which is equal to the guideline value of Jesvanth Nagar Part II.

• Jesvanth Nagar: Rs 7,100 per sq.ft (2024)
• Kallamegam Road: Rs 8,800 per sq.ft (2024)
• Kamadhenu Chamber: Rs 7,100 per sq.ft (2024)
• Kamarajar Nagar: Rs 5,500 per sq.ft (2024)
• Kamarajar Street: Rs 3,800 per sq.ft (2024)
• Kamaraj nagar and 1 to 4 Cross Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Jesvanth Nagar Part II

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. 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 Jesvanth Nagar Part II?

The Sub Registrar Office that covers Jesvanth Nagar Part II is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer and seller must refer to the guideline value to ascertain the applicable duties. The stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the transaction is transparent and compliant with legal requirements.

Frequently asked questions

What is the current guideline value of Jesvanth Nagar Part II?

The current guideline value of Jesvanth Nagar Part II is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 492% over the years.

What is the role of the Konnur SRO?

The Konnur SRO is responsible for property registrations in the Mugappair area, ensuring that all transactions adhere to the established guidelines and legal requirements.

How is stamp duty calculated in Jesvanth Nagar Part II?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000.

Where can I find more information about the registration process?

More information about the registration process and related fees can be found on the official website or by using the stamp duty and registration fee calculator.