Guideline Value for Bop John Garden

Bop John Garden guideline value

The current guideline value of Bop John Garden is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Bop John Garden has changed

The guideline value for Bop John Garden has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which is an increase of 8% from the 2023 revision of Rs 1,200 per sq.ft. Prior to that, the guideline value remained unchanged at Rs 1,200 per sq.ft from the 2012 revision through to 2023.

There are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Bop John Garden is below this median.

• B.P. Nagar: Rs 1,600 per sq.ft (2024)
• Brindavan Garden: Rs 1,600 per sq.ft (2024)
• Brindavan Garden, Ponniammanmedu (Ward-23): Rs 1,600 per sq.ft (2024)
• Bishop Esra Nagar: Rs 1,300 per sq.ft (2024)
• Binny Nagar Main Rd (Ward No.4): Rs 1,300 per sq.ft (2024)
• Binny Nagar Cross st (Ward No.4): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bop John Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Bop John Garden?

The Bop John Garden area is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical component during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and complies with local regulations. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Bop John Garden?

The current guideline value of Bop John Garden is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased by 8%, from Rs 1,200 per sq.ft to Rs 1,300 per sq.ft in 2024, with no changes recorded for the years 2002, 2003, 2007, and 2017.

What is the land classification for Bop John Garden?

Bop John Garden is classified as Residential Class III Type - I, which indicates its designation for residential purposes.

What are the stamp duty and registration fees for properties in Bop John Garden?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft property would incur a total fee of Rs 1,17,000.

Where can I find the Sub Registrar Office for Bop John Garden?

The Madhavaram Sub Registrar Office covers Bop John Garden and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO through the provided link.