Guideline Value for J.P.ESTATE 24TH STREET

J.P.Estate 24th Street guideline value

The current guideline value of J.P.Estate 24th Street is Rs 1,625 per sq.ft, effective from 1 July 2024. This street is located in Paruthipattu village under the Avadi SRO, with a land classification of Residential Special Type - I.

How the guideline value of J.P.Estate 24th Street has changed

The guideline value for J.P.Estate 24th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. This was a significant drop of 33%. However, the subsequent revisions saw a substantial increase, with the 2023 revision marking a value of Rs 1,500 per sq.ft, followed by the current 2024 revision at Rs 1,625 per sq.ft, reflecting an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 87%. Overall, comparing the 2012 figure to the current 2024 value, there has been a 35% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 4,730 per sq.ft. The median value for these streets is Rs 1,625 per sq.ft, which is equal to the current guideline value for J.P.Estate 24th Street.

• J.P.Estate 23rd Street: Rs 1,625 per sq.ft (2024)
• J.P.Estate 24th Street 1st Cross St: Rs 1,625 per sq.ft (2024)
• J.P.Estate 24th Street 2nd Cross St: Rs 1,625 per sq.ft (2024)
• J.P.Estate 22nd Street: Rs 1,625 per sq.ft (2024)
• J.P.Estate 24th Street 3rd Cross St: Rs 1,625 per sq.ft (2024)
• J.P.Estate 21st Street 3rd Cross St: Rs 1,625 per sq.ft (2024)

Stamp duty and registration fee for property in J.P.Estate 24th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,625 per sq.ft, the total guideline value amounts to Rs 16,25,000. The stamp duty at 7% would be Rs 1,13,750, and the registration fee at 2% would be Rs 32,500, totaling Rs 1,46,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers J.P.Estate 24th Street?

The Sub Registrar Office that covers J.P.Estate 24th Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Paruthipattu. 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 duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, thus influencing the overall transaction costs.

Frequently asked questions

What is the current guideline value of J.P.Estate 24th Street?

The current guideline value of J.P.Estate 24th Street is Rs 1,625 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 1,200 per sq.ft in 2012 to Rs 1,625 per sq.ft in 2024, with notable changes in between.

What is the land classification for J.P.Estate 24th Street?

The land classification for J.P.Estate 24th Street is Residential Special Type - I.

Which office handles registrations for properties in J.P.Estate 24th Street?

The Avadi Sub Registrar Office handles registrations for properties in J.P.Estate 24th Street, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate fees are collected during property transactions.