Guideline Value for J.P. Avenue Phase - II

J.P. Avenue Phase - II guideline value

The current guideline value of J.P. Avenue Phase - II is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Puthur village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of J.P. Avenue Phase - II has changed

The guideline value for J.P. Avenue Phase - II has undergone several revisions over the years. In 2012, the guideline value was Rs 700 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 469 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 700 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Puthur

Puthur village has a total of 63 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 330 to Rs 4,600 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, indicating that J.P. Avenue Phase - II's 2024 figure is below this median.

• J.P. Avenue Phase - I: Rs 770 per sq.ft (2024)
• J.P. Avenue Phase - III: Rs 770 per sq.ft (2024)
• J.P. Avenue Phase - IV: Rs 770 per sq.ft (2024)
• Ishwarya Avenue: Rs 770 per sq.ft (2024)
• Kavina Garden: Rs 1,650 per sq.ft (2024)
• Gandhi Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in J.P. Avenue Phase - II

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total cost for these fees Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers J.P. Avenue Phase - II?

The Sub Registrar Office that covers J.P. Avenue Phase - II is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

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

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher value between the guideline value and the actual sale price.

Frequently asked questions

What is the current guideline value of J.P. Avenue Phase - II?

The current guideline value of J.P. Avenue Phase - II is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the median guideline value in Puthur?

The median guideline value in Puthur is Rs 1,100 per sq.ft, which is above the current guideline value of J.P. Avenue Phase - II.

What are the stamp duty and registration fees for property in J.P. Avenue Phase - II?

For a 1,000 sq.ft plot, the total guideline value is Rs 7,70,000, leading to a stamp duty of Rs 53,900 and a registration fee of Rs 15,400, totaling Rs 69,300.

Which office handles property registrations for J.P. Avenue Phase - II?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for J.P. Avenue Phase - II, located at No.26, Mes Road, East Tambaram, Chennai-600059.