Guideline Value for JP Nelson IT Residency

JP Nelson IT Residency guideline value

The current guideline value of JP Nelson IT Residency is Rs 800 per sq.ft, as per the 2023 revision. This property is located in Vengadamangalam village under the Gooduvancheri SRO and is classified as Residential Special Type - II.

How the guideline value of JP Nelson IT Residency has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the value was Rs 160 per sq.ft, which increased to Rs 800 per sq.ft in 2012, marking a 400% increase. However, in the 2017 revision, the value decreased to Rs 536 per sq.ft, which was a reduction of 33% from the previous figure. The most recent revision in 2023 saw the guideline value rise again to Rs 800 per sq.ft, reflecting a 49% increase from 2017.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 400%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Vengadamangalam

Currently, there are no specific village figures available for Vengadamangalam. JP Nelson IT Residency is situated in this village, and as of now, there are no other streets in Vengadamangalam listed under the Gooduvancheri SRO.

Stamp duty and registration fee for property in JP Nelson IT Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty, charged at 7%, would be Rs 56,000, while the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers JP Nelson IT Residency?

The JP Nelson IT Residency falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Vengadamangalam, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property registration. Understanding these values can help in budgeting for the overall expenses involved in a property transaction.

Frequently asked questions

What is the current guideline value of JP Nelson IT Residency?

The current guideline value of JP Nelson IT Residency is Rs 800 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 160 per sq.ft to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and finally returned to Rs 800 per sq.ft in 2023.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000, and the registration fee would be Rs 16,000, totaling Rs 72,000.

Which Sub Registrar Office covers JP Nelson IT Residency?

The Gooduvancheri Sub Registrar Office covers JP Nelson IT Residency, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.

Are there any other streets in Vengadamangalam listed under the Gooduvancheri SRO?

Currently, there are no other streets in Vengadamangalam listed under the Gooduvancheri SRO.