Guideline Value for J.B. Garden Phase-III

J.B. Garden Phase-III guideline value

The current guideline value of J.B. Garden Phase-III is Rs 2,700 per sq.ft, effective from 1 July 2024. This property is located in Madhavaram village under the Madhavaram SRO and is classified as Residential Special Type - I.

How the guideline value of J.B. Garden Phase-III has changed

The guideline value for J.B. Garden Phase-III has seen revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, which is an increase of 8% from the 2023 revision, where the value was Rs 2,500 per sq.ft. Prior to this, there are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value increased from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024. The previous revisions do not have recorded figures for this street, indicating that the guideline value has been updated only in the last two years.

Guideline values in Madhavaram

The village of Madhavaram has a range of guideline values for its 1,946 streets, with figures for 2024 ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing J.B. Garden Phase-III above this median.

• J.B. Garden Phase-II: Rs 2,700 per sq.ft (2024)
• J.B. Garden Phase-1: Rs 2,700 per sq.ft (2024)
• J.C.P. Garden (Ward-10): Rs 2,200 per sq.ft (2024)
• Jeeva Nagar: Rs 1,300 per sq.ft (2024)
• Jeeva Nagar (Ward-10): Rs 1,300 per sq.ft (2024)
• Jayalakshmi Garden (Ward-03): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in J.B. Garden Phase-III

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty is charged at 7%, resulting in Rs 1,89,000, while the registration fee at 2% totals Rs 54,000. Together, the total cost for these fees is Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers J.B. Garden Phase-III?

The Sub Registrar Office that covers J.B. Garden Phase-III is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction reflects a fair value for taxation purposes. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of J.B. Garden Phase-III?

The current guideline value of J.B. Garden Phase-III is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, representing an 8% increase.

What is the land classification for J.B. Garden Phase-III?

J.B. Garden Phase-III is classified as Residential Special Type - I.

Which office handles registrations for J.B. Garden Phase-III?

The Madhavaram Sub Registrar Office handles registrations for J.B. Garden Phase-III, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in J.B. Garden Phase-III?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 1,89,000.