Guideline Value for J.P.JAI RESIDENCY

J.P.Jai Residency guideline value

The current guideline value of J.P.Jai Residency is Rs 700 per sq.ft. It is located in Kolathur village under the Chengleput Joint II SRO, and the land classification is Mixed Special Type - I.

How the guideline value of J.P.Jai Residency has changed

The guideline value for J.P.Jai Residency has seen several revisions over the years. In 2007, the guideline value was Rs 80 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. This was followed by a decrease to Rs 469 per sq.ft in 2017. The 2023 revision maintained the value at Rs 700 per sq.ft, and the same value continues into the 2024 revision, effective from 1 July 2024, showing no change from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 775%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,600 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value for J.P.Jai Residency is above this median.

• Jerusalam Nagar: Rs 600 per sq.ft (2024)
• Jayam Nagar: Rs 600 per sq.ft (2024)
• Kamadhenu Avenue: Rs 700 per sq.ft (2024)
• Jawhars Emerald Garden: Rs 600 per sq.ft (2024)
• Iniya Nagar: Rs 800 per sq.ft (2024)
• Karthiga Puram: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in J.P.Jai Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers J.P.Jai Residency?

The Sub Registrar Office that covers J.P.Jai Residency is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering a property in Kolathur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark. Buyers must pay stamp duty based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of J.P.Jai Residency?

The current guideline value of J.P.Jai Residency is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with notable increases from Rs 80 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, followed by a decrease to Rs 469 per sq.ft in 2017. The value remained at Rs 700 per sq.ft in both 2023 and 2024.

What are the other streets in Kolathur with their guideline values?

Other streets in Kolathur under the Chengleput Joint II SRO have varying guideline values. For example, Jerusalam Nagar and Jayam Nagar both have a guideline value of Rs 600 per sq.ft, while Iniya Nagar has a higher value of Rs 800 per sq.ft.

How is stamp duty calculated for properties in J.P.Jai Residency?

Stamp duty for properties in J.P.Jai Residency is calculated based on the guideline value or the sale price, whichever is higher. For instance, a property valued at Rs 7,00,000 would incur a stamp duty of Rs 49,000 at 7%.

Where can I find the Sub Registrar Office for J.P.Jai Residency?

The Sub Registrar Office for J.P.Jai Residency is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO through the provided link.