Guideline Value for J.B. Garden Phase-II

J.B. Garden Phase-II guideline value

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

The guideline value of J.B. Garden Phase-II has seen significant changes over the years. The 2017 revision set the guideline value at Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 raised the value further to Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 61%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for the village is Rs 1,600 per sq.ft, placing J.B. Garden Phase-II's 2024 figure above this median.

• J.B. Garden Phase-1: Rs 2,700 per sq.ft (2024)
• J.B. Garden Phase-III: 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-II

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to 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.

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

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

The Sub Registrar Office that covers J.B. Garden Phase-II is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more details, you can find your SRO.

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

The guideline value is a crucial factor when registering a property in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the state receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark. The registration process will require payment of fees based on this value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

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

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

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,700 per sq.ft in 2024, marking an overall increase of 61% over this period.

What are the stamp duty and registration fees for properties in J.B. Garden Phase-II?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

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

The Madhavaram Sub Registrar Office covers J.B. Garden Phase-II, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of J.B. Garden Phase-II?

J.B. Garden Phase-II is classified as Residential Special Type - I, indicating its suitability for residential development.