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 area is located in Santhavellur_B 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 in the 2023 revision, which also recorded Rs 500 per sq.ft. The most recent revision in 2024 has kept the guideline value steady at Rs 500 per sq.ft, indicating a 0% change from 2023 to 2024. Notably, there was a significant increase of 49% from 2017 to 2023, and overall, the guideline value has increased by 49% from 2017 to 2024.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only revisions available are from 2017, 2023, and 2024.

Guideline values in Santhavellur_B

In Santhavellur_B, there are 55 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 200 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, placing JBM Independence nagar's 2024 figure above this median.

• Jothi Nagar: Rs 600 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 300 per sq.ft (2024)
• Ganga Garden B: Rs 300 per sq.ft (2024)
• Ganga Garden A: Rs 300 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 guideline value of Rs 500 per sq.ft, the total guideline value amounts to 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, bringing the total fees together to 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 JBM Independence nagar area is covered by 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_B

The guideline value is a crucial factor during the registration of property transactions in Santhavellur_B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the registration process is transparent and that the government receives the appropriate revenue from property transactions.

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 from Rs 335 per sq.ft to Rs 500 per sq.ft in the 2023 and 2024 revisions, showing a 49% increase overall.

What are the guideline values of other streets in Santhavellur_B?

Other streets in Santhavellur_B have varying guideline values, with Jothi Nagar at Rs 600 per sq.ft, and several streets like Indira Gandhi Street, Kamarajar Street, and Ganga Garden A, B, and C at Rs 200 to Rs 300 per sq.ft.

What fees are associated with buying property in JBM Independence nagar?

When buying property in JBM Independence nagar, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for JBM Independence nagar?

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