Guideline Value for Jeya Nagar

Jeya Nagar guideline value

The current guideline value of Jeya Nagar, located in Nariyampakkam village under the Sriperumpudur SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Jeya Nagar has changed

Over the years, the guideline value of Jeya Nagar has seen several revisions. The most recent revisions show that in 2024, the value is Rs 250 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the value was Rs 167 per sq.ft, indicating a 50% increase from 2017 to 2023. The 2012 revision also recorded a value of Rs 250 per sq.ft, which means there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 250 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. The 2012 revision was the first to establish a guideline value of Rs 250 per sq.ft, which was maintained in the subsequent revisions in 2023 and 2024.

Guideline values in Nariyampakkam

Nariyampakkam village has a total of 17 streets under the Sriperumpudur SRO carrying a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft. The median value for these streets is Rs 250 per sq.ft, which is the same as the guideline value for Jeya Nagar.

• Kaliamman Koil Street: Rs 250 per sq.ft (2024)
• Hindu Nagar: Rs 250 per sq.ft (2024)
• GV Nagar: Rs 600 per sq.ft (2024)
• Annai Indira Gandhi Salai: Rs 250 per sq.ft (2024)
• Pallavan street: Rs 250 per sq.ft (2024)
• Alwar Thiru Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Jeya 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, making the total fees Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Jeya Nagar?

The Jeya Nagar area falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nariyampakkam. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering 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. It is advisable for buyers and sellers to be familiar with the current guideline values in their area to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Jeya Nagar?

The current guideline value of Jeya 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 remained at Rs 250 per sq.ft from 2012 to 2024, with a significant increase of 50% from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot valued at Rs 2,50,000, the total fees would amount to Rs 22,500.

Which office handles property registrations for Jeya Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations for Jeya Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the land classification of Jeya Nagar?

Jeya Nagar is classified as Residential Class I Type - I, indicating its suitability for residential purposes.