Guideline Value for J.J. Nagar 2nd Street

J.J. Nagar 2nd Street guideline value

The current guideline value of J.J. Nagar 2nd 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 2nd Street has changed

The guideline value for J.J. Nagar 2nd Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 500 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 335 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, representing a 49% rise. The most recent revision in 2024 has set the value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for J.J. Nagar 2nd Street. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Agaramthen

Agaramthen village has a total of 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 guideline value for these streets is Rs 830 per sq.ft, placing J.J. Nagar 2nd Street's current value below this median.

• J.J. Nagar 1st 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 2nd 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 to Rs 49,500. Please 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 2nd Street?

The Sub Registrar Office that covers J.J. Nagar 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the 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 property transactions in Agaramthen, as it determines the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements. This value is regularly updated, reflecting changes in the real estate landscape.

Frequently asked questions

What is the current guideline value of J.J. Nagar 2nd Street?

The current guideline value of J.J. Nagar 2nd 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 2nd Street?

The land classification for J.J. Nagar 2nd Street is Residential Class I Type - III.

Where can I find the Sub Registrar Office for J.J. Nagar 2nd Street?

The Sub Registrar Office for J.J. Nagar 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for property in J.J. Nagar 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 550 per sq.ft, the stamp duty would be Rs 38,500.