Guideline Value for J.J.NAGAR

J.J.Nagar guideline value

The current guideline value of J.J.Nagar, located in Silavattam village under the Madurandakam Sub Registrar Office, is Rs 400 per sq.ft, effective from 1 July 2024. The land classification for this area is New House Site Type -II (Unapproved Lay-Out).

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

The guideline value for J.J.Nagar has seen several revisions over the years. In 2012, the guideline value was set at Rs 400 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 268 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, it increased significantly to Rs 400 per sq.ft, reflecting a rise of 49%. The 2023 revision maintained the same value of Rs 400 per sq.ft, which has been carried over to the 2024 revision.

The register has no figure for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained unchanged at Rs 400 per sq.ft.

Guideline values in Silavattam

In Silavattam, there are six streets that carry a 2024 guideline value, ranging from Rs 200 to Rs 400 per sq.ft. The median value for these streets is Rs 302 per sq.ft, placing J.J.Nagar's 2024 figure above that median.

• New Lakshmi Nagar: Rs 302 per sq.ft (2024)
• Aasai Nagar Phase - V: Rs 302 per sq.ft (2024)
• S.R.G.D Nagar Phase-II: Rs 200 per sq.ft (2024)
• Sri Veeraraghava Nagar Phase - I: Rs 200 per sq.ft (2024)
• "sri Veeraragava Nagar": Rs 301 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 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, while the registration fee at 2% would be Rs 8,000, bringing the total costs together to Rs 36,000. 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 detailed calculations.

Which Sub Registrar Office covers J.J.Nagar?

The J.J.Nagar area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial aspect of property transactions in Silavattam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value serves as a benchmark for calculating stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the guideline value, as it can impact the overall cost of the transaction. Understanding this 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 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent change occurring from 2023 to 2024, where it remained the same at Rs 400 per sq.ft. The value was Rs 268 per sq.ft in 2017, and it increased to Rs 400 per sq.ft in 2023.

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

The land classification for J.J.Nagar is New House Site Type -II (Unapproved Lay-Out).

Where can I find the registration office for J.J.Nagar?

The registration office for J.J.Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 at a rate of 7%.