Guideline Value for SRI JAYAM NAGAR

Sri Jayam Nagar guideline value

The current guideline value of Sri Jayam Nagar, located in Merattur village under the Ponneri SRO, is Rs 150 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 Sri Jayam Nagar has changed

Looking at the revisions, the guideline value for Sri Jayam Nagar was Rs 100 per sq.ft in the 2017 revision. This value increased by 50% to Rs 150 per sq.ft in the 2023 revision, and it remains unchanged at Rs 150 per sq.ft in the 2024 revision, reflecting a 0% change from the previous year. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Overall, from 2017 to 2024, the guideline value has increased by 50%. The consistency in the value from 2023 to 2024 indicates stability in the guideline value for this period.

Guideline values in Merattur

In Merattur, five streets under the Ponneri SRO have a 2024 guideline value ranging from Rs 150 to Rs 150 per sq.ft, with a median of Rs 150 per sq.ft. Sri Jayam Nagar's 2024 guideline value is equal to this median.

• Sri Subramaniya Gandhi Nagar: Rs 150 per sq.ft (2024)
• Saraswathy Avenue: Rs 150 per sq.ft (2024)
• Rds Nagar Phase I & II: Rs 150 per sq.ft (2024)
• Pasumai Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Jayam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 150 per sq.ft, the guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, totaling Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sri Jayam Nagar?

The Sub Registrar Office that covers Sri Jayam Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value is referenced to determine the official value of the property, which may affect the costs associated with the transaction. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Jayam Nagar?

The current guideline value of Sri Jayam Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft from 2023 to 2024, and it increased by 50% from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in 2023.

What are the other streets in Merattur with the same guideline value?

Other streets in Merattur under the Ponneri SRO with the same guideline value of Rs 150 per sq.ft include Sri Subramaniya Gandhi Nagar, Saraswathy Avenue, Rds Nagar Phase I & II, and Pasumai Nagar.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles the registration of properties in Sri Jayam Nagar.

How is the stamp duty calculated for property transactions?

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 Rs 150 per sq.ft, the stamp duty would be Rs 10,500.