Guideline Value for J.J. Nagar 3rd Street

J.J. Nagar 3rd Street guideline value

The current guideline value of J.J. Nagar 3rd Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Agaramthen village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of J.J. Nagar 3rd Street has changed

Over the years, the guideline value of J.J. Nagar 3rd Street has experienced several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 500 per sq.ft, and the most recent 2024 revision has raised it to Rs 550 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value per sq.ft.

Guideline values in Agaramthen

In Agaramthen, there are 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, placing J.J. Nagar 3rd Street's 2024 figure below this median.

• J.J. Nagar 4th Street: Rs 550 per sq.ft (2024)
• J.J. Nagar 2nd Street: Rs 550 per sq.ft (2024)
• J.J. Nagar Main Road: Rs 550 per sq.ft (2024)
• J.J. Nagar 1st Street: 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers J.J. Nagar 3rd Street?

The Sub Registrar Office that covers J.J. Nagar 3rd 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 plays a crucial role in the registration process when buying or selling property in Agaramthen. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When registering a property, buyers and sellers must consider the guideline value as it directly impacts the stamp duty and registration fees. The fees are calculated based on the higher of the guideline value or the sale price, making it essential for both parties to be aware of the current guideline value.

Frequently asked questions

What is the current guideline value of J.J. Nagar 3rd Street?

The current guideline value of J.J. Nagar 3rd 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 back to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in J.J. Nagar 3rd Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 38,500, and the registration fee would be Rs 11,000, totaling Rs 49,500 based on the current guideline value.

Which Sub Registrar Office covers J.J. Nagar 3rd Street?

The Tambaram Joint 1 Sub Registrar Office covers J.J. Nagar 3rd Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for J.J. Nagar 3rd Street?

J.J. Nagar 3rd Street is classified as Residential Class I Type - III, indicating its suitability for residential development.