Guideline Value for Sri Jai Vignesh Nagar

Sri Jai Vignesh Nagar guideline value

The current guideline value of Sri Jai Vignesh Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Azhakoor village and falls under the Sriperumpudur SRO. The land classification for this street is New House Site Type -III (Approved Lay-Out).

How the guideline value of Sri Jai Vignesh Nagar has changed

Over the years, the guideline value for Sri Jai Vignesh Nagar has seen several revisions. The earliest recorded revision was in 2007, with a guideline value of Rs 110 per sq.ft. This figure increased significantly to Rs 300 per sq.ft in 2012, marking a 173% increase. However, the value dropped to Rs 201 per sq.ft in 2017, representing a decrease of 33% from the previous revision. The guideline value remained at Rs 300 per sq.ft during the 2023 revision and has not changed in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 300 per sq.ft. The overall change from the 2007 revision to the current 2024 revision reflects an increase of 173%, indicating a stable value in recent years.

Guideline values in Azhakoor

Azhakoor village has 18 streets under the Sriperumpudur SRO, with 2024 guideline values ranging from Rs 100 to Rs 350 per sq.ft. The median guideline value for these streets is Rs 225 per sq.ft, placing Sri Jai Vignesh Nagar's 2024 figure above this median.

• Srimathi Sankar Nagar: Rs 200 per sq.ft (2024)
• Sri Azhagar Nagar: Rs 300 per sq.ft (2024)
• Sriradi Sai Nagar: Rs 300 per sq.ft (2024)
• Sri Selva Vingnesh Nagar: Rs 300 per sq.ft (2024)
• Sri Sundararaja Perumal City: Rs 200 per sq.ft (2024)
• Sbi Colony: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Jai Vignesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total fees together Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Jai Vignesh Nagar?

Sri Jai Vignesh Nagar is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Azhakoor. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with the legal requirements.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Jai Vignesh Nagar?

The current guideline value of Sri Jai Vignesh 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 multiple times, starting from Rs 110 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreasing to Rs 201 per sq.ft in 2017, and finally stabilizing at Rs 300 per sq.ft in 2023 and 2024.

What is the land classification for Sri Jai Vignesh Nagar?

Sri Jai Vignesh Nagar is classified as New House Site Type -III (Approved Lay-Out), which is significant for property development and registration purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Sri Jai Vignesh Nagar?

The Sriperumpudur Sub Registrar Office, which covers Sri Jai Vignesh Nagar, is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.