Guideline Value for J.P. Nagar Extension

J.P. Nagar Extension guideline value

The current guideline value of J.P. Nagar Extension in Kathirvedu village, under the Ambattur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This classification falls under Residential Special Type - II.

How the guideline value of J.P. Nagar Extension has changed

Over the years, the guideline value of J.P. Nagar Extension has seen significant changes. The earliest recorded figure was Rs 43 per sq.ft in 2002, which increased to Rs 75 per sq.ft in 2003, marking a rise of 74%. By 2007, the value surged to Rs 400 per sq.ft, reflecting a remarkable increase of 433%. The value then reached Rs 2,000 per sq.ft in 2012, resulting in a decrease of 33% compared to 2007. The subsequent revisions showed a rise to Rs 1,340 per sq.ft in 2017, which was a 49% increase from 2012. The guideline value was Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,200 per sq.ft in 2024, a 10% increase.

There are no figures available for the years that are not listed in the register for this street. The overall increase from 2002 to 2024 stands at an impressive 5016%.

Guideline values in Kathirvedu

Kathirvedu village has 78 streets under the Ambattur SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 1,500 per sq.ft, placing J.P. Nagar Extension above this median.

• J.P. Nagar: Rs 2,200 per sq.ft (2024)
• John Victor Street: Rs 1,100 per sq.ft (2024)
• Jayavel Nagar: Rs 1,300 per sq.ft (2024)
• Jai Maruthi Nagar Annex: Rs 2,700 per sq.ft (2024)
• Jai Maruthi Nagar: Rs 2,000 per sq.ft (2024)
• INTUC now Gomathiamman Nagar: Rs 1,742 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to 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 use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers J.P. Nagar Extension?

The J.P. Nagar Extension is covered by 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 Kathirvedu

The guideline value is a crucial factor during the registration of property transactions in Kathirvedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that all transactions are fairly assessed.

Frequently asked questions

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

The current guideline value of J.P. Nagar Extension 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 increased significantly from Rs 43 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 5016%.

What are the other streets in Kathirvedu and their guideline values?

Other streets in Kathirvedu include J.P. Nagar at Rs 2,200 per sq.ft, John Victor Street at Rs 1,100 per sq.ft, and Jai Maruthi Nagar Annex at Rs 2,700 per sq.ft, among others.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.

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

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