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 Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is 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. In 2012, the guideline value was Rs 600 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 402 per sq.ft, marking a decline of 33%. Following this, the value saw a significant increase in 2023, rising to Rs 600 per sq.ft, and then to Rs 660 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing J.V.Avenue's 2024 figure below this median.

• Kaanthaliamman Koil Street (Ward -15): Rs 550 per sq.ft (2024)
• Kaaraikazhani (Ward -2): Rs 440 per sq.ft (2024)
• Jrk School (N): Rs 1,320 per sq.ft (2024)
• J P Watch Man (Per): Rs 660 per sq.ft (2024)
• Kaithe Millath Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kalaignar Karunanithi Nagar (Ward -2): Rs 440 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 rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to 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.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, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Panangottur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair valuation in accordance with government regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions, as these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of 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 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for J.V.Avenue (Ward -19)?

The land classification for J.V.Avenue (Ward -19) is Residential Class I Type - III.

Where can I find the Sub Registrar Office for J.V.Avenue (Ward -19)?

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

How is the stamp duty calculated for properties in J.V.Avenue (Ward -19)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees can be calculated accordingly.