Guideline Value for J.J. STREET

J.J. Street guideline value

The current guideline value of J.J. Street in Iyyappanthangal village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

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

The guideline value for J.J. Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and further rose to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft, with a median value of Rs 2,200 per sq.ft. J.J. Street's 2024 guideline value is below this median.

• Kamatchi Nagar: Rs 1,980 per sq.ft (2024)
• Kamatchi Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Kamatchi Nagar 3rd Street: Rs 1,980 per sq.ft (2024)
• Kamatchi Nagar 4th Street: Rs 1,980 per sq.ft (2024)
• Kamatchi Nagar Ist Street: Rs 1,980 per sq.ft (2024)
• Kamatchi Nagar Koil Street: Rs 1,980 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers J.J. Street?

The Sub Registrar Office that covers J.J. Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Iyyappanthangal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of J.J. Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of J.J. Street?

J.J. Street is classified as Residential Class IV Type - II under the Chennai South Joint I SRO.

What are the other streets in Iyyappanthangal?

Other streets in Iyyappanthangal include Kamatchi Nagar, Kamatchi Nagar 2nd Street, Kamatchi Nagar 3rd Street, Kamatchi Nagar 4th Street, Kamatchi Nagar Ist Street, and Kamatchi Nagar Koil Street, all with a 2024 guideline value of Rs 1,980 per sq.ft.

How is stamp duty calculated for properties in J.J. Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000, with stamp duty at 7% amounting to Rs 92,400.