Guideline Value for J.J. Street

J.J. Street guideline value

The current guideline value of J.J. Street in Neelankarai village is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class III Type - I.

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

Over the years, the guideline value for J.J. Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. However, the value increased significantly in the 2023 revision to Rs 1,500 per sq.ft, and further rose to Rs 1,700 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects a modest increase of 13%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing J.J. Street's 2024 figure below the median.

• J.P.Nagar: Rs 1,700 per sq.ft (2024)
• Kabaleeswarar Nagar 1st North Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 1st South Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 2nd North Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 2nd South Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 3rd North Cross Street: Rs 5,500 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 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. The total cost for these fees would be Rs 1,53,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers J.J. Street?

The Sub Registrar Office that covers J.J. Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Neelankarai. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is crucial for both parties to be aware of the guideline value, as it affects the overall costs involved in the transaction. This ensures transparency and compliance with local regulations.

Frequently asked questions

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

The current guideline value of J.J. Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

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

J.J. Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for J.J. Street?

The Sub Registrar Office for J.J. Street is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 1,53,000 in fees.