Guideline Value for J.K.B. Nagar

J.K.B. Nagar guideline value

The current guideline value of J.K.B. Nagar in Jampuli village, under the Madhavaram SRO, is Rs 2,200 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

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

Over the years, the guideline value of J.K.B. Nagar has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,200 per sq.ft. The register has no figure for this street for the years 2002, 2003, and 2007.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. There was a significant increase of 49% from 2017 to 2023. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Jampuli

In Jampuli village, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft, with a median value of Rs 2,450 per sq.ft. The guideline value of J.K.B. Nagar is below this median.

• Kalasathamman Koil Street: Rs 2,700 per sq.ft (2024)
• Jampuli Street: Rs 2,200 per sq.ft (2024)
• Jampuli New Colony 7th Street: Rs 1,700 per sq.ft (2024)
• Jampuli New Colony 6th Street: Rs 1,700 per sq.ft (2024)
• Jampuli New Colony 5th Street: Rs 1,700 per sq.ft (2024)
• Jampuli New Colony 4th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in J.K.B. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. 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 our stamp duty and registration fee calculator for more personalized calculations.

Which Sub Registrar Office covers J.K.B. Nagar?

The Sub Registrar Office that covers J.K.B. Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Jampuli. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers and sellers must be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of J.K.B. Nagar is Rs 2,200 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

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

The land classification for J.K.B. Nagar is Residential Class II Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for property in J.K.B. 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 22,00,000, the stamp duty at 7% would be Rs 1,54,000.