Guideline Value for New Jerusalam Nagar

New Jerusalam Nagar guideline value

The current guideline value of New Jerusalam Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class II Type - II.

How the guideline value of New Jerusalam Nagar has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

The register has no figures for the years 2002, 2003, 2007, and 2017 for New Jerusalam Nagar. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value of New Jerusalam Nagar is below this median.

• New Ambedkar Street: Rs 1,300 per sq.ft (2024)
• New Ambedkar Cross Street: Rs 1,300 per sq.ft (2024)
• Neval Quarters Road: Rs 1,300 per sq.ft (2024)
• Neval Quarters Main Road: Rs 1,300 per sq.ft (2024)
• Neval Quarters 4th Street: Rs 1,300 per sq.ft (2024)
• Neval Quarters 3rd Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in New Jerusalam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Jerusalam Nagar?

The Sub Registrar Office that covers New Jerusalam Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Madambakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the minimum value at which the property can be registered. This value is essential for both buyers and sellers to understand their obligations during the transaction process.

Frequently asked questions

What is the current guideline value of New Jerusalam Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen an increase of 8% from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 8% as well.

What is the land classification of New Jerusalam Nagar?

New Jerusalam Nagar is classified as Residential Class II Type - II. This classification impacts the guideline value and property usage in the area.

Where can I find the Sub Registrar Office for New Jerusalam Nagar?

The Selaiyur Sub Registrar Office covers New Jerusalam Nagar, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in New Jerusalam Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.