Guideline Value for J.P. Nagar(4th Street)

J.P. Nagar(4th Street) guideline value

The current guideline value of J.P. Nagar(4th Street) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Soorapattu village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of J.P. Nagar(4th Street) has changed

The guideline value for J.P. Nagar(4th Street) has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following that, the value increased significantly to Rs 2,000 per sq.ft in 2023, and further rose to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the increase was 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

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. The guideline value for J.P. Nagar(4th Street) is above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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 to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers J.P. Nagar(4th Street)?

The Sub Registrar Office that covers J.P. Nagar(4th 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 information.

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

The guideline value is an essential factor in property transactions in Soorapattu. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value helps establish the official value of the property for taxation purposes. This ensures that the correct fees are paid based on the property's assessed value, providing transparency in property transactions.

Frequently asked questions

What is the current guideline value for J.P. Nagar(4th Street)?

The current guideline value for J.P. Nagar(4th 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 changes, with the most recent increase being from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, a rise of 10%.

What is the land classification for J.P. Nagar(4th Street)?

The land classification for J.P. Nagar(4th Street) is Residential Special Type - I.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office 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 Soorapattu?

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 would be Rs 1,54,000 at a rate of 7%.