Guideline Value for J.V.AVENUE (WARD -19)

J.V.Avenue (Ward -19) guideline value

The current guideline value of J.V.Avenue (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - III.

How the guideline value of J.V.Avenue (Ward -19) has changed

The guideline value for J.V.Avenue has undergone several revisions over the years. The earliest recorded figure in the register is from 2012, where it was Rs 600 per sq.ft. This value remained unchanged until the next revision in 2017, which saw a decrease to Rs 402 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, marking a 49% rise. The most recent revision in 2024 brought the value up to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for J.V.Avenue in the revisions from 2002, 2003, and 2007. Overall, comparing the 2012 figure to the 2024 figure, there has been a 10% increase.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing J.V.Avenue's current value below that median.

• Kaanthaliamman Koil Street (Ward -15): Rs 660 per sq.ft (2024)
• Kaaraikazhani (Ward -2): Rs 660 per sq.ft (2024)
• Jrk School (N): Rs 1,321 per sq.ft (2024)
• J P Watch Man (Per): Rs 660 per sq.ft (2024)
• Kaithe Millath Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Kalaignar Karunanithi Nagar (Ward -2): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in J.V.Avenue (Ward -19)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the 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.V.Avenue (Ward -19)?

The Sub Registrar Office that covers J.V.Avenue (Ward -19) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Ninna Karai

When buying or selling property in Ninna Karai, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This value acts as a benchmark for the minimum price at which the property can be registered.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the financial aspects of property transactions, ensuring that the correct fees are paid during the registration process.

Frequently asked questions

What is the current guideline value for J.V.Avenue (Ward -19)?

The current guideline value for J.V.Avenue (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 660 per sq.ft in 2024, with various revisions in between, including a decrease to Rs 402 per sq.ft in 2017 and an increase to Rs 600 per sq.ft in 2023.

What is the land classification for J.V.Avenue?

J.V.Avenue is classified as Residential Class I Type - III, which indicates its suitability for residential development.

What are the other streets in Ninna Karai with similar guideline values?

Other streets in Ninna Karai with similar guideline values include Kaanthaliamman Koil Street, Kaaraikazhani, J P Watch Man, and Kalaignar Karunanithi Nagar, all valued at Rs 660 per sq.ft in 2024.

Where can I find the Sub Registrar Office for J.V.Avenue?

The Sub Registrar Office for J.V.Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.