Guideline Value for J.J.Road

J.J.Road guideline value

The current guideline value of J.J.Road is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, with a land classification of Residential Special Type - IV.

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

The guideline value for J.J.Road has seen several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 13,000 per sq.ft. The latest revision in 2024 increased the value to Rs 14,300 per sq.ft, marking a change of +10% from the previous year.

To summarize, the guideline values for J.J.Road have evolved from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024. The absence of figures in earlier years indicates a lack of recorded guideline values for this street during those periods.

Guideline values in Mylapore Part 2

Mylapore Part 2 comprises 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing J.J.Road's 2024 figure above this median.

• Jayammal Street: Rs 11,000 per sq.ft (2024)
• Jaipur Colony: Rs 15,400 per sq.ft (2024)
• Jaganatha Thottam: Rs 7,700 per sq.ft (2024)
• Kamarajar Salai: Rs 8,700 per sq.ft (2024)
• Kamarajar Street: Rs 8,700 per sq.ft (2024)
• Kamatchi Nagar: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in J.J.Road

For a 1,000 sq.ft plot at the current rate of Rs 14,300 per sq.ft, the guideline value would be Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, totaling Rs 12,87,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

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

Which Sub Registrar Office covers J.J.Road?

The Sub Registrar Office that covers J.J.Road is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO online for further assistance.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 2. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers to establish a fair price for the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of J.J.Road is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for J.J.Road has changed from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, reflecting a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 2?

The median guideline value for streets in Mylapore Part 2 is Rs 8,800 per sq.ft. J.J.Road's 2024 guideline value is above this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

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

The Sub Registrar Office for J.J.Road is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more information online.