Guideline Value for J.J.Nagar 2nd Street

J.J.Nagar 2nd Street guideline value

The current guideline value of J.J.Nagar 2nd Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Kunduperumpedu village, under the Sriperumpudur SRO, and is classified as Residential Class II Type - I.

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

Over the years, the guideline value for J.J.Nagar 2nd Street has undergone several revisions. The earliest available figure is from 2012, which was set at Rs 200 per sq.ft. In 2017, the value decreased to Rs 134 per sq.ft, marking a decline of 33%. However, by 2023, it increased to Rs 200 per sq.ft, reflecting a significant rise of 49% from the 2017 figure. The current revision in 2024 maintains this value at Rs 200 per sq.ft, showing no change from the previous year.

It is important to note that there are no guideline value figures available for the years 2002, 2003, and 2007 for J.J.Nagar 2nd Street. Therefore, the revisions we can track are from 2012, 2017, 2023, and the current 2024 value.

Guideline values in Kunduperumpedu

Kunduperumpedu village has a total of 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 500 per sq.ft. The median value among these streets is Rs 200 per sq.ft, which is equal to the current guideline value of J.J.Nagar 2nd Street.

• J.J.Nagar 1st Street: Rs 200 per sq.ft (2024)
• J.J.Nagar Main Road: Rs 200 per sq.ft (2024)
• Jeyam Nagar: Rs 150 per sq.ft (2024)
• Jesus Garden: Rs 200 per sq.ft (2024)
• Jemi Modern City - II: Rs 250 per sq.ft (2024)
• Jemi Modern City - I: 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 guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty, charged at 7%, would be Rs 14,000, while the registration fee at 2% would be Rs 4,000. Therefore, the total cost for stamp duty and registration fees would be 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 also use the stamp duty and registration fee calculator for more accurate calculations.

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

The Sub Registrar Office that covers J.J.Nagar 2nd Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kunduperumpedu. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the duty is levied on the higher of the guideline value or the sale price of the property.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with the legal requirements during property transactions. It helps in assessing the financial implications of the purchase or sale, making it a vital aspect of real estate dealings in the area.

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 changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023, and remains at Rs 200 per sq.ft in 2024.

What is the land classification of J.J.Nagar 2nd Street?

J.J.Nagar 2nd Street is classified as Residential Class II Type - I.

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

For a 1,000 sq.ft plot, the total stamp duty is Rs 14,000 and the registration fee is Rs 4,000, making a total of Rs 18,000 based on the current guideline value.

Which office handles the registration for J.J.Nagar 2nd Street?

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