Guideline Value for J.J.NAGAR

J.J.Nagar guideline value

The current guideline value of J.J.Nagar, located in Kayirambedu village under the Chengleput Joint II SRO, is Rs 1,001 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

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

Over the years, the guideline value of J.J.Nagar has undergone several revisions. The 2007 revision set the value at Rs 215 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. This was followed by a decrease to Rs 670 per sq.ft in 2017, before rising to Rs 1,000 per sq.ft in 2023. The current 2024 revision maintains the value at Rs 1,001 per sq.ft, reflecting no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2007 to 2012 was substantial at 365%, while the overall change from 2007 to 2024 is an increase of 366%. There are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value for J.J.Nagar is above this median.

• Jubilee Residences: Rs 2,389 per sq.ft (2024)
• Jaya Nagar: Rs 700 per sq.ft (2024)
• Jawarharlal Nehru Nagar Extention: Rs 700 per sq.ft (2024)
• Indra Gandhi Nagar: Rs 700 per sq.ft (2024)
• Inba Avenue: Rs 2,389 per sq.ft (2024)
• Iayyappa Gardan: Rs 700 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 1,001 per sq.ft, the total guideline value would be Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total cost for these fees to Rs 90,090. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the 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 Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Kayirambedu

The guideline value plays a crucial role in property transactions in Kayirambedu. It is used to determine the stamp duty and registration fees that a buyer must pay when purchasing a property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When selling a property, the guideline value helps establish a baseline for the expected sale price. It provides both buyers and sellers with a reference point, ensuring that transactions are conducted transparently and fairly according to the established rates.

Frequently asked questions

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

The current guideline value of J.J.Nagar is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of J.J.Nagar has seen various changes, with the most recent increase from Rs 1,000 per sq.ft in 2023 to Rs 1,001 per sq.ft in 2024. The value has increased overall by 366% since 2007.

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

J.J.Nagar is classified as Residential Special Type - I, indicating its designation for residential purposes within the area.

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

Stamp duty for properties in J.J.Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 10,01,000 would incur a stamp duty of Rs 70,070.

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

The Chengleput Joint II Sub Registrar Office covers J.J.Nagar and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information about your SRO online.