Guideline Value for Jeyalakshmi Nagar

Jeyalakshmi Nagar guideline value

The current guideline value of Jeyalakshmi Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is located in Nandhivaram village under the Gooduvancheri SRO, and the land classification is Residential Special Type - II.

How the guideline value of Jeyalakshmi Nagar has changed

Over the years, the guideline value of Jeyalakshmi Nagar has seen several revisions. The earliest figure recorded was Rs 69 per sq.ft in 2002, which increased significantly to Rs 328 per sq.ft in 2007. Following this, the value rose dramatically to Rs 2,000 per sq.ft in 2012, before decreasing to Rs 1,340 per sq.ft in 2017. The value then remained at Rs 2,000 per sq.ft during the 2023 revision and has been retained at the same rate for the 2024 revision, showing no change from the previous year.

The changes between these revisions highlight substantial fluctuations. From 2002 to 2007, the guideline value increased by +375%. The value then saw a remarkable increase of +510% from 2007 to 2012. However, it dropped by -33% from 2012 to 2017. After that, there was a significant increase of +49% from 2017 to 2023, with no change from 2023 to 2024.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. Jeyalakshmi Nagar's 2024 figure of Rs 2,000 per sq.ft is above this median.

• Jesuraja Nagar Extn: Rs 1,000 per sq.ft (2024)
• Jesuraja Nagar: Rs 1,000 per sq.ft (2024)
• Jeyaram Nagar: Rs 1,500 per sq.ft (2024)
• Jegadesh Nagar: Rs 1,000 per sq.ft (2024)
• Jayasundar Avenue: Rs 1,000 per sq.ft (2024)
• Janak Pushpa Shanthi Nagar: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Jeyalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value would be Rs 20,00,000. The stamp duty at 7% would amount to Rs 1,40,000, while the registration fee at 2% would be Rs 40,000. Together, the total cost for these fees would be Rs 1,80,000. 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 Jeyalakshmi Nagar?

The Sub Registrar Office that covers Jeyalakshmi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Nandhivaram. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for any property transaction.

When a property is sold, the buyer is required to pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jeyalakshmi Nagar?

The current guideline value of Jeyalakshmi Nagar is Rs 2,000 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 69 per sq.ft in 2002 to Rs 2,000 per sq.ft in 2024, with various increases and decreases along the way.

What is the land classification for Jeyalakshmi Nagar?

The land classification for Jeyalakshmi Nagar is Residential Special Type - II.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Jeyalakshmi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 20,00,000, the stamp duty would be Rs 1,40,000 at 7%.