Guideline Value for J.P. Nagar(1st Street)

J.P. Nagar(1st Street) guideline value

The current guideline value of J.P. Nagar(1st Street) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Soorapattu village, under the Ambattur Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - I.

How the guideline value of J.P. Nagar(1st Street) has changed

The guideline value for J.P. Nagar(1st 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 that, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%, and from 2023 to 2024, there was a 10% increase. Overall, the guideline value has seen a 10% rise from 2012 to 2024.

Guideline values in Soorapattu

In Soorapattu, there are 115 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing J.P. Nagar(1st Street) above this median.

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

Stamp duty and registration fee for property in J.P. Nagar(1st 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 amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, these fees would total 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 use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers J.P. Nagar(1st Street)?

The J.P. Nagar(1st Street) falls under the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Soorapattu. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When finalizing a transaction, it is essential to consider the guideline value, as it impacts the overall cost of registration. Buyers and sellers should ensure they are aware of the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of J.P. Nagar(1st Street)?

The current guideline value of J.P. Nagar(1st 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 seen several revisions, starting from Rs 2,000 per sq.ft in 2012, decreasing to Rs 1,340 per sq.ft in 2017, then increasing to Rs 2,000 in 2023, and finally reaching Rs 2,200 in 2024.

What is the registration fee for property in J.P. Nagar(1st Street)?

The registration fee for property in J.P. Nagar(1st Street) is calculated at 2% of the guideline value. For example, for a 1,000 sq.ft plot valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Where is the Sub Registrar Office for J.P. Nagar(1st Street)?

The Sub Registrar Office for J.P. Nagar(1st 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 property transactions?

Stamp duty is charged at 7% of the higher value between the guideline value and the sale price. For instance, if the guideline value is Rs 22,00,000, the stamp duty would amount to Rs 1,54,000.