Guideline Value for JBM Independence Nagar

JBM Independence Nagar guideline value

The current guideline value of JBM Independence Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This locality is situated in Santhavellur village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - II.

How the guideline value of JBM Independence Nagar has changed

In the 2017 revision, the guideline value was Rs 335 per sq.ft. This figure remained unchanged at Rs 500 per sq.ft during the 2023 revision and continued to hold the same value in the 2024 revision. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%, and there was no change from 2023 to 2024. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Santhavellur

Santhavellur village has 63 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 2,800 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, which is equal to the guideline value of JBM Independence Nagar.

• Jothi Nagar: Rs 600 per sq.ft (2024)
• Jacob Garden: Rs 569 per sq.ft (2024)
• Indira Gandhi Street: Rs 200 per sq.ft (2024)
• Kamarajar Street: Rs 200 per sq.ft (2024)
• Ganga Garden C: Rs 305 per sq.ft (2024)
• Ganga Garden B: Rs 305 per sq.ft (2024)

Stamp duty and registration fee for property in JBM Independence Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the 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 JBM Independence Nagar?

The Sub Registrar Office that covers JBM Independence Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Santhavellur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as assessed by the local authorities. This helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of JBM Independence Nagar?

The current guideline value of JBM Independence Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49% to Rs 500 per sq.ft in both the 2023 and 2024 revisions. There were no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

What is the land classification of JBM Independence Nagar?

JBM Independence Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the registration office for JBM Independence Nagar?

The registration office for JBM Independence Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value of Rs 5,00,000 would incur a stamp duty of Rs 35,000 at 7%.