Guideline Value for Jinnah Nagar

Jinnah Nagar guideline value

The current guideline value of Jinnah Nagar, located in Acharapakkam village under the Acchirapakkam SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Jinnah Nagar has changed

The guideline value of Jinnah Nagar has undergone several revisions over the years. In the 2007 revision, it was set at Rs 200 per sq.ft. This increased to Rs 300 per sq.ft in 2012, representing a 50% rise. However, there was a decrease to Rs 201 per sq.ft in the 2017 revision, marking a decline of 33%. From 2017 to 2023, the value saw a significant increase of 99%, maintaining the same rate of Rs 400 per sq.ft in the 2023 revision. The 2024 revision also holds the guideline value at Rs 400 per sq.ft, indicating no change from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 100%.

Guideline values in Acharapakkam

Acharapakkam has 61 streets under the Acchirapakkam SRO that carry a guideline value for 2024, ranging from Rs 250 to Rs 600 per sq.ft. The median value is Rs 400 per sq.ft, placing Jinnah Nagar's guideline value at this median level.

• Hospital Officials Kudiyippu Ward 7: Rs 400 per sq.ft (2024)
• Kannai Koil Madha Street Ward 2: Rs 350 per sq.ft (2024)
• Karimedu: Rs 400 per sq.ft (2024)
• G.S.T. Road: Rs 400 per sq.ft (2024)
• Kasturi Nagar: Rs 400 per sq.ft (2024)
• Kazhani Vellala Colony (Palla Colony) Ward 2: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Jinnah 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, leading to a total of Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jinnah Nagar?

The Sub Registrar Office that covers Jinnah Nagar is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Acharapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with the prevailing market conditions.

When registering a property, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jinnah Nagar?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, reflecting a 100% increase overall. There have been fluctuations in the intervening years, with the value reaching Rs 201 per sq.ft in 2017 before stabilizing at Rs 400 per sq.ft in 2023 and 2024.

What is the land classification for Jinnah Nagar?

Jinnah Nagar is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

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

The Sub Registrar Office for Jinnah Nagar is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Jinnah Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000, leading to a stamp duty of Rs 28,000 at 7%.