Guideline Value for Sri Jayamohan Nagar

Sri Jayamohan Nagar guideline value

The current guideline value of Sri Jayamohan Nagar, located in Grandlyon village, is Rs 880 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Residential Special Type - I.

How the guideline value of Sri Jayamohan Nagar has changed

The guideline value for Sri Jayamohan Nagar has undergone several revisions over the years. Starting from Rs 32 per sq.ft in 2003, it increased significantly to Rs 600 per sq.ft in 2007. The value then rose to Rs 800 per sq.ft in 2012, but saw a decrease to Rs 536 per sq.ft in 2017. Following this, the guideline value increased to Rs 800 per sq.ft in 2023, and most recently to Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by a remarkable 2,650%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for Sri Jayamohan Nagar is above this median.

• Sri Krishna Nagar: Rs 660 per sq.ft (2024)
• Sri Krishna Nagar Annexe: Rs 660 per sq.ft (2024)
• Sri Krishna Nagar Annex Extension - III: Rs 660 per sq.ft (2024)
• Sri Krishna Nagar Annex-I: Rs 660 per sq.ft (2024)
• Sri Lakshmi Garden: Rs 440 per sq.ft (2024)
• Sri Paleeswarar Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Jayamohan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sri Jayamohan Nagar?

The Sub Registrar Office that covers Sri Jayamohan Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Grandlyon. It serves as the basis for calculating stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

When a property is registered, the guideline value is used to determine the applicable fees, which can vary based on the property's size and value. Buyers and sellers should be aware of these values to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Sri Jayamohan Nagar?

The current guideline value of Sri Jayamohan Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 32 per sq.ft in 2003 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 2,650% over this period.

What is the land classification for Sri Jayamohan Nagar?

Sri Jayamohan Nagar is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

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

The Sub Registrar Office for Sri Jayamohan Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How are stamp duty and registration fees calculated in Sri Jayamohan Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 79,200.