Guideline Value for JEMS DAFFODIL NAGAR

Jems Daffodil Nagar guideline value

The current guideline value of Jems Daffodil Nagar is Rs 3,200 per sq.ft, effective from 1 July 2024. This locality is situated in Madambakkam village under the Selaiyur SRO, classified as Residential Special Type - IV.

How the guideline value of Jems Daffodil Nagar has changed

The guideline value for Jems Daffodil Nagar has seen several revisions over the years. In the 2017 revision, the value was set at Rs 2,010 per sq.ft. This increased significantly to Rs 3,005 per sq.ft in the 2023 revision, marking a 50% rise. The latest revision in 2024 has further increased the guideline value to Rs 3,200 per sq.ft, which is a 6% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 59%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. Jems Daffodil Nagar's current guideline value is above this median.

• Jem's Meridian Nagar: Rs 2,700 per sq.ft (2024)
• Jegavanthapuram: Rs 1,300 per sq.ft (2024)
• Jegajeevanram Street: Rs 1,600 per sq.ft (2024)
• Joseph Street: Rs 1,300 per sq.ft (2024)
• Jayaprakash Narayan Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Jayaprakash Narayan Nagar 2nd Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Jems Daffodil Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value would be Rs 32,00,000. The stamp duty at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total to Rs 2,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jems Daffodil Nagar?

The Sub Registrar Office covering Jems Daffodil Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO online.

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

The guideline value is a crucial factor in the registration process of property transactions in Madambakkam. 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.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall costs involved in the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Jems Daffodil Nagar?

The current guideline value of Jems Daffodil Nagar is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,010 per sq.ft in 2017 to Rs 3,200 per sq.ft in 2024, marking a total increase of 59% over this period.

What are the other streets in Madambakkam with their guideline values?

Other streets in Madambakkam include Jem's Meridian Nagar at Rs 2,700 per sq.ft, Jegavanthapuram at Rs 1,300 per sq.ft, Jegajeevanram Street at Rs 1,600 per sq.ft, Joseph Street at Rs 1,300 per sq.ft, and both Jayaprakash Narayan Nagar Main Road and 2nd Street at Rs 1,600 per sq.ft.

What is the stamp duty for a property in Jems Daffodil Nagar?

The stamp duty for a property in Jems Daffodil Nagar is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,24,000.

Where is the Sub Registrar Office for Jems Daffodil Nagar located?

The Sub Registrar Office for Jems Daffodil Nagar is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.