Guideline Value for JAM JAM NAGAR

Jam Jam Nagar guideline value

The current guideline value of Jam Jam Nagar, located in Vilvarayanalloor village under the Madurandakam SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Jam Jam Nagar has changed

The guideline value for Jam Jam Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 40 per sq.ft. This increased significantly to Rs 200 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value dropped to Rs 134 per sq.ft, a decrease of 33%. The guideline value then rose again to Rs 200 per sq.ft in both 2023 and 2024, showing no change between these two revisions.

In summary, from 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 400%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Vilvarayanalloor

In Vilvarayanalloor, there are 23 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 101 to Rs 300 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Jam Jam Nagar is equal to this median.

• Jam Jam Nagar II: Rs 200 per sq.ft (2024)
• Iswaryam Nagar Phase-VI: Rs 200 per sq.ft (2024)
• Iswaryam Nagar Phase-V: Rs 200 per sq.ft (2024)
• Iswaryam Nagar Phase-IV: Rs 200 per sq.ft (2024)
• Iswaryam Nagar Phase-III: Rs 200 per sq.ft (2024)
• Iswaryam Nagar Phase - II: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Jam Jam Nagar

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 at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees together to Rs 18,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jam Jam Nagar?

The Sub Registrar Office that covers Jam Jam Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Vilvarayanalloor. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers should be aware that the guideline value is the baseline for these calculations, ensuring that the government receives the appropriate fees for property transactions.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the property is valued correctly for taxation purposes.

Frequently asked questions

What is the current guideline value of Jam Jam Nagar?

The current guideline value of Jam Jam Nagar 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 several times, starting from Rs 40 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then dropping to Rs 134 per sq.ft in 2017, and finally returning to Rs 200 per sq.ft in 2023 and 2024.

What is the stamp duty rate for properties in Jam Jam Nagar?

The stamp duty rate for properties in Jam Jam Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Jam Jam Nagar?

The Sub Registrar Office for Jam Jam Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the guideline value determined for properties in Vilvarayanalloor?

The guideline value for properties in Vilvarayanalloor is determined by the Registration Department and is based on various factors, including land classification and previous revisions. It is used to calculate stamp duty and registration fees during property transactions.