Guideline Value for J.J. Garden Part-II

J.J. Garden Part-II guideline value

The current guideline value of J.J. Garden Part-II is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of J.J. Garden Part-II has changed

The guideline value for J.J. Garden Part-II has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is an increase from Rs 2,000 per sq.ft in 2023. Notably, there was no change in the figure from the 2012 revision, which also recorded Rs 2,000 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2017.

From 2012 to 2024, the overall increase in the guideline value is 10%. Specifically, the change from 2023 to 2024 reflects a 10% increase. This indicates a steady valuation for this property in the recent years leading up to the current guideline value.

Guideline values in Madhavaram

In Madhavaram village, 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 J.J. Garden Part-II is above this median, indicating its relative position within the village.

• J.J. Garden Part-I: Rs 2,200 per sq.ft (2024)
• J.J. Garden (Ward-10): Rs 2,200 per sq.ft (2024)
• J.J. Nagar: Rs 1,300 per sq.ft (2024)
• J.J. Nagar (9th Ward): Rs 2,200 per sq.ft (2024)
• J.J. Nagar Extension: Rs 2,200 per sq.ft (2024)
• John Vasu st extn. ( Ward No.4 ): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in J.J. Garden Part-II

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers J.J. Garden Part-II?

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

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

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

The current guideline value of J.J. Garden Part-II is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There has been no change from the 2012 revision, which also recorded Rs 2,000 per sq.ft.

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

J.J. Garden Part-II is classified as Residential Class I Type - I, indicating its designation for residential use.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for J.J. Garden Part-II located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in J.J. Garden Part-II.