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

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

The current guideline value for J.V.Avenue (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village under the Chengleput Joint II SRO, and it falls under the Residential Class I Type - III land classification.

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

The guideline value for J.V.Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 600 per sq.ft, and the latest 2024 revision has raised it further to Rs 660 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in the village is Rs 1,100 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 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, making the total cost for these fees Rs 59,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

For more information on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers J.V.Avenue (Ward -19)?

J.V.Avenue (Ward -19) is covered by 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 details.

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

The guideline value is a crucial factor when buying or selling property in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately in the official records. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

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 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and currently stands at Rs 660 per sq.ft in 2024.

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

J.V.Avenue (Ward -19) falls under the Residential Class I Type - III land classification.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at a rate of 7%.