Guideline Value for Jeyam Nagar

Jeyam Nagar guideline value

The current guideline value of Jeyam Nagar, located in Venkadu village under the Sriperumpudur SRO, is Rs 300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Jeyam Nagar has changed

Over the years, the guideline value for Jeyam Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 50 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, marking a 500% rise. However, in the subsequent revision in 2017, the value decreased to Rs 201 per sq.ft, a drop of 33%. The value remained at Rs 300 per sq.ft in both 2023 and the upcoming 2024 revision, showing no change between these two years.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 300 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 500%, reflecting the changes in the local real estate landscape.

Guideline values in Venkadu

In Venkadu, there are 24 streets under the Sriperumpudur SRO, with the 2024 guideline values ranging from Rs 100 to Rs 471 per sq.ft. The median value is Rs 300 per sq.ft, which is the same as the guideline value for Jeyam Nagar.

• Gandhi Nagar: Rs 300 per sq.ft (2024)
• Lake View Avenue: Rs 310 per sq.ft (2024)
• Ellaiyamman Koil Street: Rs 310 per sq.ft (2024)
• Main Road: Rs 400 per sq.ft (2024)
• Mettu Street: Rs 300 per sq.ft (2024)
• Brijvaji Avenue: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Jeyam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. 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 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 Venkadu

The guideline value plays a crucial role in the registration process of property transactions in Venkadu. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the transaction is aligned with the official valuation set by the Registration Department.

Frequently asked questions

What is the current guideline value of Jeyam Nagar?

The current guideline value of Jeyam Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017. It has remained at Rs 300 per sq.ft in both 2023 and 2024.

What are the stamp duty rates for property in Jeyam Nagar?

The stamp duty rate for property in Jeyam Nagar is 7% of the guideline value or sale price, whichever is higher. For example, on a 1,000 sq.ft plot valued at Rs 3,00,000, the stamp duty would be Rs 21,000.

Where is the Sub Registrar Office for Jeyam Nagar located?

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

How can I calculate my registration fees?

You can calculate your registration fees using the stamp duty and registration fee calculator available online. This tool will help you determine the applicable fees based on the guideline value or sale price.