Guideline Value for J.P. Nagar Cross Street

J.P. Nagar Cross Street guideline value

The current guideline value of J.P. Nagar Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Soorapattu village under the Ambattur SRO, and it is classified as Residential Special Type - I.

How the guideline value of J.P. Nagar Cross Street has changed

The guideline value for J.P. Nagar Cross Street has undergone several revisions over the years. 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 figures for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows an increase of 10%.

Guideline values in Soorapattu

In Soorapattu village, there are 115 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft, with a median value of Rs 1,300 per sq.ft. J.P. Nagar Cross Street's 2024 guideline value is above this median.

• J.P.Nagar Anex: Rs 1,900 per sq.ft (2024)
• J.P. Nagar(4th Street): Rs 2,200 per sq.ft (2024)
• J.P. Nagar Extention: Rs 1,900 per sq.ft (2024)
• J.P. Nagar(3rd Street): Rs 2,200 per sq.ft (2024)
• J.P. Nagar Main Street: Rs 2,200 per sq.ft (2024)
• J.P. Nagar(2nd Street): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in J.P. Nagar Cross Street

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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers J.P. Nagar Cross Street?

The Sub Registrar Office that covers J.P. Nagar Cross Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential metric used during the registration of property transactions in Soorapattu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are based on the current market standards set by the registration department.

When buying or selling property, the guideline value helps both parties understand the minimum value that will be considered for registration purposes. It is crucial for buyers and sellers to be aware of these values to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of J.P. Nagar Cross Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 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.P. Nagar Cross Street?

J.P. Nagar Cross Street is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for J.P. Nagar Cross Street?

The Sub Registrar Office covering J.P. Nagar Cross Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in J.P. Nagar Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,98,000.