Guideline Value for J.J. Nagar

J.J. Nagar guideline value

The current guideline value of J.J. Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

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

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged through the 2023 revision, which continued to list the value at Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for the area is Rs 1,600 per sq.ft, indicating that J.J. Nagar's 2024 figure is below this median.

• J.J. Garden (Ward-10): Rs 2,200 per sq.ft (2024)
• J.J. Garden Part-II: Rs 2,200 per sq.ft (2024)
• J.J. Garden Part-I: Rs 2,200 per sq.ft (2024)
• J.J. Nagar (9th Ward): Rs 2,200 per sq.ft (2024)
• J.J. Nagar Extension: Rs 2,200 per sq.ft (2024)
• John Vasu st extn. (Ward No.4): Rs 1,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. 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 specific calculations.

Which Sub Registrar Office covers J.J. Nagar?

The Sub Registrar Office that covers J.J. Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the government records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. The authorities use this value to assess the transaction and ensure compliance with local regulations.

Frequently asked questions

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

The current guideline value of J.J. Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen an increase from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, marking an 8% increase. There were no changes recorded for the years 2002, 2003, 2007, and 2017 for this street.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft. J.J. Nagar's current value of Rs 1,300 per sq.ft is below this median.

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

For a property valued at Rs 13,00,000 in J.J. Nagar, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for J.J. Nagar located?

The Sub Registrar Office for J.J. Nagar is the Madhavaram Sub Registrar Office, situated at No.7, Roja Nagar, Madhavaram, Chennai-600060.