Guideline Value for SRI JAYAMARUTHI NAGAR

Sri Jayamaruthi Nagar guideline value

The current guideline value of Sri Jayamaruthi Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Vilangadupakkam village under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Sri Jayamaruthi Nagar has changed

The guideline value for Sri Jayamaruthi Nagar has seen several revisions over the years. In 2012, the value was Rs 400 per sq.ft, which decreased to Rs 268 per sq.ft in 2017. However, this figure rose significantly by 49% to Rs 400 per sq.ft in 2023, and then increased by 10% to the current value of Rs 440 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The revisions highlight fluctuations, including a decrease from 2012 to 2017 and substantial increases in the years following 2017.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO carrying a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft, with the median value being Rs 440 per sq.ft. Sri Jayamaruthi Nagar's 2024 guideline value aligns with this median.

• Sri Kamalammal Nagar: Rs 550 per sq.ft (2024)
• Sri Elumalai Avenue: Rs 440 per sq.ft (2024)
• Sri Krishna Nagar Phase - I: Rs 440 per sq.ft (2024)
• Sri Devi Nagar: Rs 440 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 440 per sq.ft (2024)
• Sri Chengalamman Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Jayamaruthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. 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 Sri Jayamaruthi Nagar?

The Sub Registrar Office covering Sri Jayamaruthi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vilangadupakkam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate applicable fees.

When registering a property, the guideline value will influence the stamp duty and registration fees that need to be paid. It is essential for both parties to understand this value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Sri Jayamaruthi Nagar?

The current guideline value of Sri Jayamaruthi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Sri Jayamaruthi Nagar?

Sri Jayamaruthi Nagar is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

Where can I find more information about stamp duty and registration fees?

For detailed information on stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which office handles property registrations for Sri Jayamaruthi Nagar?

The Redhills Sub Registrar Office handles property registrations for Sri Jayamaruthi Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.