Guideline Value for J.J. Nagar Extension

J.J. Nagar Extension guideline value

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

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

The guideline value for J.J. Nagar Extension has seen revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft. The most recent revision in 2024 increased this to Rs 2,200 per sq.ft, marking a 10% increase from the 2012 figure.

There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street in the register.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median of Rs 1,600 per sq.ft. The guideline value of J.J. Nagar Extension is above this median.

• John Vasu st extn. ( Ward No.4 ): Rs 1,300 per sq.ft (2024)
• John Vasu st ( Ward No.4 ): Rs 1,300 per sq.ft (2024)
• J.J. Nagar (9th Ward): Rs 2,200 per sq.ft (2024)
• J.J. Nagar: Rs 1,300 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)

Stamp duty and registration fee for property in J.J. Nagar Extension

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, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. 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 Extension?

The J.J. Nagar Extension is covered by the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is essential when registering property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When you buy or sell property, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This helps maintain transparency in property transactions within the region.

Frequently asked questions

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

The current guideline value of J.J. Nagar Extension is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification for J.J. Nagar Extension?

J.J. Nagar Extension is classified as Residential Class I Type - I. This classification indicates the type of development permitted in the area.

What are the stamp duty and registration fees for property in J.J. Nagar Extension?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000. The duty is charged on the higher of the guideline value or the sale price.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of property transactions in the area.