Guideline Value for J.J. Nagar Main Road

J.J. Nagar Main Road guideline value

The current guideline value for J.J. Nagar Main Road in Agaramthen village is Rs 550 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of J.J. Nagar Main Road has changed

The guideline value for J.J. Nagar Main Road has seen several revisions over the years. 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 value increased to Rs 500 per sq.ft in 2023, and finally, it has been revised to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year. It is important to note that the register has no figure for this street in 2002, 2003, or 2007.

From the 2012 revision to the 2024 revision, the overall change in guideline value is an increase of 10%. Specifically, there was a significant increase of 49% from 2017 to 2023, while the value decreased by 33% from 2012 to 2017.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median guideline value in this area is Rs 830 per sq.ft, indicating that the 2024 figure for J.J. Nagar Main Road is below this median.

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

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, making the total cost for these fees 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 Main Road?

The J.J. Nagar Main Road is covered by 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 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 transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the government and the parties involved in the transaction adhere to legal requirements and proper documentation.

Frequently asked questions

What is the current guideline value of J.J. Nagar Main Road?

The current guideline value of J.J. Nagar Main Road 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 Main Road?

J.J. Nagar Main Road is classified as Residential Class I Type - III under the Tambaram Joint 1 SRO.

What are the stamp duty and registration fees for properties in Agaramthen?

Stamp duty is typically charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price.

Where can I find the Sub Registrar Office for J.J. Nagar Main Road?

The Sub Registrar Office for J.J. Nagar Main Road is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.