Guideline Value for Jeyam Nagar

Jeyam Nagar guideline value

The current guideline value of Jeyam Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Somangalam_B village under the Sriperumpudur SRO, and the land classification is Residential Special Type - I.

How the guideline value of Jeyam Nagar has changed

The guideline value for Jeyam Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 268 per sq.ft, which remained unchanged at Rs 400 per sq.ft in the 2023 revision. The latest revision in 2024 also maintains the value at Rs 400 per sq.ft, indicating no change from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49% as well. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft, with a median value of Rs 250 per sq.ft. Jeyam Nagar's 2024 guideline value is above this median.

• Jayaram Nagar: Rs 250 per sq.ft (2024)
• Jayabalan Nagar: Rs 400 per sq.ft (2024)
• Kailashpuri Nagar: Rs 250 per sq.ft (2024)
• Indira Nagar Part II: Rs 200 per sq.ft (2024)
• Indira Nagar: Rs 400 per sq.ft (2024)
• Hi-tech city Extension: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Jeyam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, making the total fees together Rs 36,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jeyam Nagar?

The Sub Registrar Office that covers Jeyam Nagar is 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 Somangalam_B

The guideline value plays a crucial role during property registration in Somangalam_B. It serves as a reference point for calculating the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Jeyam Nagar?

The current guideline value of Jeyam Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Jeyam Nagar increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in both the 2023 and 2024 revisions, reflecting a 49% increase overall from 2017 to 2024.

What is the land classification for Jeyam Nagar?

Jeyam Nagar is classified as Residential Special Type - I, which is relevant for property development and usage regulations.

Where can I find the Sub Registrar Office for Jeyam Nagar?

The Sub Registrar Office for Jeyam Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Jeyam 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 4,00,000, the stamp duty at 7% would be Rs 28,000.