Guideline Value for J.S. Tower

J.S. Tower guideline value

The current guideline value of J.S. Tower, located in Periyapanancheri village under the Pammal SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This property falls under the Commercial Class I Type - I land classification.

How the guideline value of J.S. Tower has changed

The guideline value for J.S. Tower has undergone several revisions over the years. The oldest recorded figure is from the 2017 revision, which was Rs 1,340 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 sees a further increase to Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street, indicating that the guideline value was not established during those revisions.

Guideline values in Periyapanancheri

In Periyapanancheri, there are 33 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 990 to Rs 4,925 per sq.ft. The median guideline value across these streets is Rs 1,320 per sq.ft, placing J.S. Tower's 2024 figure above this median.

• Kalathumettu Street: Rs 1,320 per sq.ft (2024)
• Indira Nagar (ward 2): Rs 990 per sq.ft (2024)
• Kannamal Street: Rs 1,320 per sq.ft (2024)
• Karunakaran Street: Rs 1,320 per sq.ft (2024)
• G.T.Krishnan Avenue Annexe: Rs 1,650 per sq.ft (2024)
• Govinthammal Street: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in J.S. Tower

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 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.

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

Which Sub Registrar Office covers J.S. Tower?

The Sub Registrar Office that covers J.S. Tower is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Periyapanancheri. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of J.S. Tower?

The current guideline value of J.S. Tower 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 changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the land classification for J.S. Tower?

J.S. Tower is classified under the Commercial Class I Type - I land classification.

What are the stamp duty rates for properties in J.S. Tower?

The stamp duty for properties in J.S. Tower is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for J.S. Tower located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.