Guideline Value for Jesvanth Nagar

Jesvanth Nagar guideline value

The current guideline value of Jesvanth Nagar 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. The land classification for this street is Residential Special Type - I.

How the guideline value of Jesvanth Nagar has changed

The guideline value for Jesvanth Nagar has seen several revisions over the years. Starting from Rs 308 per sq.ft in 2002, it increased to Rs 388 per sq.ft in 2003, marking a 26% rise. The value then saw a significant jump to Rs 1,200 per sq.ft in 2007, which was a 209% increase. In 2012, the value was Rs 6,500 per sq.ft, reflecting a 442% increase from the previous revision. However, it decreased to Rs 4,355 per sq.ft in 2017, which was a 33% drop. The value rose again to Rs 6,500 per sq.ft in 2023, and finally reached Rs 7,100 per sq.ft in 2024, representing a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2205%. It is important to note that there are no figures available for the revisions in years other than those listed.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO with a 2024 guideline value ranging 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 for Jesvanth Nagar.

• Jesvanth Nagar Part II: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total 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, bringing the total to 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?

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

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

The guideline value is a crucial factor in property transactions in Mugappair. It serves as a benchmark for determining the minimum value of properties for registration purposes. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

Buyers and sellers should be aware that the guideline value can differ significantly between different streets within the same area. Therefore, it is essential to check the specific guideline value for the property in question to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Jesvanth Nagar?

The current guideline value of Jesvanth Nagar 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 several times, starting from Rs 308 per sq.ft in 2002 and reaching Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 2205% over this period.

What are the stamp duty and registration fees for property in Jesvanth Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which Sub Registrar Office covers Jesvanth Nagar?

The Konnur Sub Registrar Office covers Jesvanth Nagar, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification of Jesvanth Nagar?

The land classification for Jesvanth Nagar is Residential Special Type - I.