Guideline Value for J.J. Nagar 1st Street

J.J. Nagar 1st Street guideline value

The current guideline value of J.J. Nagar 1st Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Agaramthen village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of J.J. Nagar 1st Street has changed

The guideline value for J.J. Nagar 1st Street has seen several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft, but it dropped to Rs 335 per sq.ft in 2017, marking a decrease of 33%. In 2023, the value increased to Rs 500 per sq.ft, and the most recent revision in 2024 raised it to Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Agaramthen

Agaramthen village has 125 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,700 per sq.ft. The median value for these streets is Rs 830 per sq.ft, making the 2024 figure for J.J. Nagar 1st Street below that median.

• J.J. Nagar 2nd Street: Rs 550 per sq.ft (2024)
• J.J. Nagar 3rd Street: Rs 550 per sq.ft (2024)
• J.J. Nagar 4th Street: Rs 550 per sq.ft (2024)
• J.J. Nagar Main Road: Rs 550 per sq.ft (2024)
• Jayapaul Street: Rs 830 per sq.ft (2024)
• Jayamangala Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in J.J. Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers J.J. Nagar 1st Street?

The Sub Registrar Office that covers J.J. Nagar 1st Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Agaramthen. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of J.J. Nagar 1st Street?

The current guideline value of J.J. Nagar 1st Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for J.J. Nagar 1st Street?

The land classification for J.J. Nagar 1st Street is Residential Class I Type - III.

Which office handles registrations for properties in J.J. Nagar 1st Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for properties in J.J. Nagar 1st Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What are the stamp duty and registration fees for a property in J.J. Nagar 1st Street?

For a property valued at the current guideline of Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.