Guideline Value for J.J. NAGAR

J.J. Nagar guideline value

The current guideline value of J.J. Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of J.J. Nagar has changed

The guideline value for J.J. Nagar has seen several revisions over the years. Starting from Rs 107 per sq.ft in 2002, it increased to Rs 126 per sq.ft in 2003, marking an 18% rise. The value then surged to Rs 400 per sq.ft in 2007, which was a significant increase of 217%. Following this, the 2012 revision set the value at Rs 2,000 per sq.ft, reflecting a remarkable 400% increase from the previous revision. The most recent revision in 2024 brought the guideline value to Rs 2,200 per sq.ft, a 10% increase from 2012.

It is important to note that there are no figures available for the revisions in 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1956%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing J.J. Nagar's 2024 figure above this median.

• Jega Nagar: Rs 1,320 per sq.ft (2024)
• Jeeva Nagar Main St: Rs 2,200 per sq.ft (2024)
• JEEVA NAGAR 4th CROSS STREET: Rs 2,200 per sq.ft (2024)
• JEEVA NAGAR 3rd CROSS STREET: Rs 2,200 per sq.ft (2024)
• Jeeva Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• JEEVA NAGAR 2nd CROSS STREET: Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers J.J. Nagar?

The Sub Registrar Office that covers J.J. Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of J.J. Nagar?

The current guideline value of J.J. Nagar 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 increased significantly from Rs 107 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1956% over the years.

What are the other streets in Pallikaranai with their guideline values?

Other streets in Pallikaranai include Jega Nagar at Rs 1,320 per sq.ft, Jeeva Nagar Main St at Rs 2,200 per sq.ft, and several others, with values ranging from Rs 1,320 to Rs 2,200 per sq.ft in 2024.

What is the stamp duty rate in J.J. Nagar?

The stamp duty rate in J.J. Nagar is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where is the Sub Registrar Office for J.J. Nagar located?

The Sub Registrar Office for J.J. Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.