Guideline Value for JR GARDEN

Jr Garden guideline value

The current guideline value for Jr Garden, located in Janagipuram village under the Madurandakam SRO, is Rs 300 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Jr Garden has changed

Over the years, the guideline value for Jr Garden has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2024 revision. In 2017, the value was Rs 201 per sq.ft, indicating a decrease of 33% from the 2012 figure. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 300 per sq.ft, where it has remained through the 2024 revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 0% as it has remained constant at Rs 300 per sq.ft.

Guideline values in Janagipuram

In Janagipuram, there are five streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 448 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, which aligns with Jr Garden's current value.

• Jai Nagar Phase-II: Rs 200 per sq.ft (2024)
• Jai Nagar: Rs 200 per sq.ft (2024)
• Mary Joseph Nagar: Rs 448 per sq.ft (2024)
• Vip City Central Square Radha Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Jr Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. Please 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 detailed calculations.

Which Sub Registrar Office covers Jr Garden?

The Sub Registrar Office that covers Jr Garden is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Janagipuram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that the guideline value is often considered the minimum value for transactions.

When registering a property, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Jr Garden?

The current guideline value of Jr Garden is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since the 2012 revision, with a decrease to Rs 201 per sq.ft in 2017 before returning to Rs 300 per sq.ft in 2023.

What is the land classification for Jr Garden?

The land classification for Jr Garden is Mixed Type - I, which indicates the type of development allowed in the area.

Where can I find the Sub Registrar Office for Jr Garden?

The Sub Registrar Office for Jr Garden is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated in Jr Garden?

Stamp duty in Jr Garden is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 27,000.