Guideline Value for J.J.NAGAR

J.J.Nagar guideline value

The current guideline value for J.J.Nagar, located in Perungudi village under the Neelankarai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class V Type - I.

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

The guideline value for J.J.Nagar has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 168 per sq.ft. This increased to Rs 250 per sq.ft in 2003, marking a 49% rise. The value further increased to Rs 600 per sq.ft in 2007, which is a 140% jump. In 2012, the guideline value shifted to Rs 1,000 per sq.ft, reflecting a 67% increase from the previous revision. However, it then decreased to Rs 670 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 1,000 per sq.ft in 2023, before reaching the current rate of Rs 1,100 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 555%. It is important to note that there are no figures available for the years between these revisions for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for J.J.Nagar is below this median.

• Justice Veerasamy Road & Street: Rs 5,500 per sq.ft (2024)
• Kalaingar Karunanithi Street (Kandan Chavadi): Rs 3,300 per sq.ft (2024)
• JANAKIRAMAN Ist CROSS STREET: Rs 2,800 per sq.ft (2024)
• Iyappan Street: Rs 2,800 per sq.ft (2024)
• Iyappan Ist Street: Rs 2,800 per sq.ft (2024)
• Iyappan Cross Street: Rs 2,200 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 guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers J.J.Nagar?

The Sub Registrar Office that covers J.J.Nagar 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 Perungudi

The guideline value plays a crucial role in the registration process of property transactions in Perungudi. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the fees are based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

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

The current guideline value of J.J.Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 168 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 555% over the years.

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

The land classification for J.J.Nagar is Residential Class V Type - I.

Which office handles property registrations in J.J.Nagar?

The Neelankarai Sub Registrar Office handles property registrations in J.J.Nagar, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in J.J.Nagar?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 77,000 at a rate of 7%.