Guideline Value for JAI GARDEN

Jai Garden guideline value

The current guideline value of Jai Garden in Agaram village is Rs 200 per sq.ft, effective from 1 July 2024. This property falls under the Walajabad SRO and is classified as Residential Class II Type - I.

How the guideline value of Jai Garden has changed

The guideline value for Jai Garden has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 200 per sq.ft. In 2017, the value decreased to Rs 134 per sq.ft, marking a decline of 33%. However, this was followed by an increase to Rs 200 per sq.ft in 2023, and it remained unchanged in the 2024 revision, resulting in a 49% increase from the 2017 figure.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value for Jai Garden has remained at Rs 200 per sq.ft, indicating no change over this period.

Guideline values in Agaram

In Agaram, there are three streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 300 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which is equal to the current guideline value of Jai Garden.

• Neo Agaram: Rs 300 per sq.ft (2024)
• S.V.P Nri Residency: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Jai Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, which totals Rs 14,000, and the registration fee is charged at 2%, amounting to Rs 4,000. Therefore, the total cost for stamp duty and registration fees together is Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Jai Garden?

The Jai Garden area is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Agaram. It is used to determine the stamp duty and registration fees that must be paid during the transaction, ensuring that the government receives the appropriate revenue from property sales.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the transaction is recorded accurately and fairly within the legal framework.

Frequently asked questions

What is the current guideline value of Jai Garden?

The current guideline value of Jai Garden is Rs 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 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023 and 2024, resulting in a 49% increase from the 2017 figure.

What is the registration office for Jai Garden?

The registration office for Jai Garden is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for properties in Jai Garden?

Stamp duty for properties in Jai Garden is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value of Rs 2,00,000 incurs a stamp duty of Rs 14,000.

What are the other streets in Agaram with guideline values?

Other streets in Agaram under the Walajabad SRO include Neo Agaram with a guideline value of Rs 300 per sq.ft and S.V.P Nri Residency with a guideline value of Rs 150 per sq.ft for 2024.