Guideline Value for J.J.Nagar 2nd Street

J.J.Nagar 2nd Street guideline value

The current guideline value for J.J.Nagar 2nd Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Kaduvancheri village under the Sriperumpudur SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of J.J.Nagar 2nd Street has changed

The guideline value for J.J.Nagar 2nd Street has seen several revisions over the years. The earliest registered figure is from 2012, which was Rs 200 per sq.ft. This was followed by a decrease to Rs 134 per sq.ft in 2017, before returning to Rs 200 per sq.ft in 2023. The current revision in 2024 maintains this value at Rs 200 per sq.ft, indicating no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, comparing the figures from 2012 to 2024, there has been no net change in the guideline value.

Guideline values in Kaduvancheri

Kaduvancheri has a total of 37 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing J.J.Nagar 2nd Street's 2024 figure below that median.

• J.J.Nagar 1st Street: Rs 200 per sq.ft (2024)
• J.J.Nagar 3rd Street: Rs 200 per sq.ft (2024)
• Jawaharlal Town: Rs 200 per sq.ft (2024)
• D.R.R.Nagar 3rd Street: Rs 250 per sq.ft (2024)
• D.R.R.Nagar 2nd Street: Rs 250 per sq.ft (2024)
• D.R.R Nagar 1st Street: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in J.J.Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. 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 your convenience.

Which Sub Registrar Office covers J.J.Nagar 2nd Street?

The J.J.Nagar 2nd Street falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kaduvancheri. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the transaction is recorded accurately.

When a property is sold, buyers and sellers must consider the guideline value to calculate applicable stamp duty and registration fees. This ensures compliance with local regulations and helps in the smooth transfer of property ownership.

Frequently asked questions

What is the current guideline value of J.J.Nagar 2nd Street?

The current guideline value of J.J.Nagar 2nd Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft in 2023 and 2024, while it was Rs 134 per sq.ft in 2017. The value was Rs 200 per sq.ft in 2012, indicating fluctuations in previous years.

What is the median guideline value in Kaduvancheri?

The median guideline value for the 37 streets in Kaduvancheri is Rs 300 per sq.ft, which means J.J.Nagar 2nd Street's current value is below this median.

What are the registration fees for property in J.J.Nagar 2nd Street?

The registration fees include a stamp duty of 7% and a registration fee of 2%. For a property valued at Rs 2,00,000, the total fees would be Rs 18,000.

Where is the Sub Registrar Office for J.J.Nagar 2nd Street?

The Sub Registrar Office covering J.J.Nagar 2nd Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.