Guideline Value for JAMELA BEGUM GARDEN

Jamela Begum Garden guideline value

The current guideline value of Jamela Begum Garden is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village under the Neelankarai SRO and is classified as Residential Class II Type - I.

How the guideline value of Jamela Begum Garden has changed

Over the years, the guideline value for Jamela Begum Garden has undergone several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,675 per sq.ft. The value remained at Rs 2,500 per sq.ft in 2012 until it was revised again in 2023 to Rs 2,500 per sq.ft. The latest revision in 2024 increased the value to Rs 2,800 per sq.ft, marking a 12% increase from 2023.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 12%. It should be noted that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Jamela Begum Garden's 2024 figure above this median.

• Janani Homes/ Janani's Cm Enclave: Rs 1,700 per sq.ft (2024)
• Janani Jai Balaji Avenue: Rs 1,700 per sq.ft (2024)
• Janani's Raghav Enclave: Rs 1,700 per sq.ft (2024)
• Janani's Shrinilayalam: Rs 4,100 per sq.ft (2024)
• Jansen Srikrithi: Rs 3,300 per sq.ft (2024)
• Jappiar College: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jamela Begum Garden

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jamela Begum Garden?

The Sub Registrar Office that covers Jamela Begum Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is crucial during the registration of property transactions in Chemmancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of this value to ensure that they are not overpaying and for sellers to set a realistic price for their property based on the current guideline value.

Frequently asked questions

What is the current guideline value of Jamela Begum Garden?

The current guideline value of Jamela Begum Garden is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, a 12% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification for Jamela Begum Garden?

Jamela Begum Garden is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Jamela Begum Garden?

The Neelankarai Sub Registrar Office covers Jamela Begum Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Jamela Begum Garden?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000.