Guideline Value for J.J. Nagar (9th Ward)

J.J. Nagar (9th Ward) guideline value

The current guideline value of J.J. Nagar (9th Ward) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of J.J. Nagar (9th Ward) has changed

Over the years, the guideline value for J.J. Nagar has seen several revisions. The earliest recorded revision was in 2012, where the guideline value was Rs 1,200 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in 2023, marking a 67% rise. The most recent revision in 2024 brought the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 83%.

Guideline values in Madhavaram

In Madhavaram, 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 guideline value in this area is Rs 1,600 per sq.ft, placing J.J. Nagar's 2024 figure above that median.

• J.J. Nagar: Rs 2,200 per sq.ft (2024)
• J.J. Garden (Ward-10): Rs 2,200 per sq.ft (2024)
• J.J. Garden Part-II: Rs 2,200 per sq.ft (2024)
• J.J. Garden Part-I: 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. Nagar (9th Ward)

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, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. It is essential 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. Nagar (9th Ward)?

The Sub Registrar Office that covers J.J. Nagar (9th Ward) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO online.

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

The guideline value is a crucial factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of J.J. Nagar (9th Ward)?

The current guideline value of J.J. Nagar (9th Ward) 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 1,200 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 83% over this period.

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

The stamp duty rate for property in J.J. Nagar is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in J.J. Nagar?

The Madhavaram Sub Registrar Office handles property registrations in J.J. Nagar (9th Ward), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, with J.J. Nagar's 2024 figure being above this median.