Guideline Value for JK Avenue

JK Avenue guideline value

The current guideline value of JK Avenue in Manimangalam A village, under the Padappai SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of JK Avenue has changed

The guideline value for JK Avenue has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 536 per sq.ft. This figure increased significantly to Rs 800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 880 per sq.ft, which is a 10% increase from the previous year.

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 64%.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median guideline value in this area is Rs 880 per sq.ft, which is equal to the current value of JK Avenue. Below are other streets in Manimangalam A with their respective guideline values:

• Kalaignar Street: Rs 880 per sq.ft (2024)
• Kalathu Mettu Street: Rs 880 per sq.ft (2024)
• Kamarajar Street: Rs 880 per sq.ft (2024)
• Indhumathi Nagar: Rs 1,430 per sq.ft (2024)
• Kani Nagar: Rs 880 per sq.ft (2024)
• Kani Nagar Extn: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in JK Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600. Together, the total cost for stamp duty and registration fee would be Rs 79,200. 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 JK Avenue?

The Sub Registrar Office that covers JK Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to the registration of property transactions in Manimangalam A. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that all transactions are recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of JK Avenue?

The current guideline value of JK Avenue is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for JK Avenue has increased from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the other streets with the same guideline value in Manimangalam A?

Other streets in Manimangalam A with the same guideline value of Rs 880 per sq.ft include Kalaignar Street, Kalathu Mettu Street, Kamarajar Street, Kani Nagar, and Kani Nagar Extn.

What are the stamp duty and registration fees for properties in JK Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, making the total Rs 79,200.

Where can I find the Sub Registrar Office for JK Avenue?

The Sub Registrar Office for JK Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.