Guideline Value for J.J. Garden Part-I

J.J. Garden Part-I guideline value

The current guideline value of J.J. Garden Part-I is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality is situated 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-I has changed

In the 2012 revision, the guideline value for J.J. Garden Part-I was set at Rs 2,000 per sq.ft. This figure remained unchanged until the 2023 revision, where it was again Rs 2,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a total increase of 10%. The register does not contain figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline values 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, indicating that J.J. Garden Part-I's 2024 figure is above this median.

• J.J. Garden Part-II: 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-I

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to 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-I?

The Sub Registrar Office that covers J.J. Garden Part-I is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for additional 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. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are applied based on the official valuation rather than the sale price, if the sale price is lower than the guideline value.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value for J.J. Garden Part-I was Rs 2,000 per sq.ft in 2012 and remained the same until 2023. In 2024, it increased to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

What are the guideline values for other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values, with figures ranging from Rs 1,300 to Rs 7,500 per sq.ft. J.J. Garden Part-I is above the median value of Rs 1,600 per sq.ft.

What is the stamp duty rate for properties in J.J. Garden Part-I?

The stamp duty rate for properties in J.J. Garden Part-I is 7% of the guideline value or the sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.