Guideline Value for J J NAGAR

J J Nagar guideline value

The current guideline value of J J Nagar, located in Pakkam village under the Madurandakam SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of J J Nagar has changed

Over the years, the guideline value of J J Nagar has seen several revisions. The earliest recorded figure is from 2007, where it was Rs 30 per sq.ft. This increased significantly to Rs 200 per sq.ft in 2012, marking a rise of 567%. However, in 2017, the value dropped to Rs 134 per sq.ft, a decrease of 33%. The value remained at Rs 200 per sq.ft in 2023 and continues to be the same in the 2024 revision, reflecting no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 567%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Pakkam

Pakkam village has 13 streets under the Madurandakam SRO with a 2024 guideline value ranging from Rs 200 to Rs 350 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing J J Nagar's 2024 figure below this median.

• Kowsalya Garden: Rs 350 per sq.ft (2024)
• Esic Employes Union Golden Juble Nagar: Rs 300 per sq.ft (2024)
• Assai Nagar Phase-6a: Rs 300 per sq.ft (2024)
• Asai Nagar: Rs 300 per sq.ft (2024)
• Akshaya Nagar: Rs 300 per sq.ft (2024)
• Aasai Nagar Phase-III: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in J J Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers J J Nagar?

The Sub Registrar Office that covers J J Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Pakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers and sellers to be aware of this value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of J J Nagar?

The current guideline value of J J Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 30 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, with fluctuations in between. It has remained at Rs 200 per sq.ft since 2012, with no change from 2023 to 2024.

What is the median guideline value for streets in Pakkam?

The median guideline value for streets in Pakkam is Rs 300 per sq.ft, with J J Nagar's value being below this median at Rs 200 per sq.ft.

What are the stamp duty and registration fees for property in J J Nagar?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Which office handles registrations for J J Nagar?

The Madurandakam Sub Registrar Office handles registrations for J J Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.