Guideline Value for JSP Park

JSP Park guideline value

The current guideline value of JSP Park in Kanthoor village is Rs 250 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Special Type - II.

How the guideline value of JSP Park has changed

Over the years, the guideline value for JSP Park has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 250 per sq.ft. The 2017 revision saw a decrease to Rs 167 per sq.ft, marking a -33% change from the 2012 figure. However, from 2017 to 2023, there was a notable increase of +50% bringing it back to Rs 250 per sq.ft.

The most recent revision in 2024 maintains the guideline value at Rs 250 per sq.ft, indicating no change from the previous year. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kanthoor

In Kanthoor, there are 33 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 700 per sq.ft. The median guideline value for these streets is Rs 181 per sq.ft, positioning JSP Park above this median.

• Jebamalai Nagar: Rs 250 per sq.ft (2024)
• Jabamalai Nagar Viriu: Rs 250 per sq.ft (2024)
• Irular Street: Rs 150 per sq.ft (2024)
• Kavana Street: Rs 150 per sq.ft (2024)
• Green Port Avenue: Rs 200 per sq.ft (2024)
• Green Farms: Rs 181 per sq.ft (2024)

Stamp duty and registration fee for property in JSP Park

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers JSP Park?

The JSP Park area is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Kanthoor, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it can influence negotiations and final sale prices. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of JSP Park?

The current guideline value of JSP Park is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since 2012, with a decrease to Rs 167 per sq.ft in 2017, followed by an increase back to Rs 250 per sq.ft in 2023. The value has not changed from 2023 to 2024.

What is the classification of JSP Park?

JSP Park is classified as Residential Special Type - II, indicating its designation for residential use within the area.

Where can I find the registration office for JSP Park?

The registration office for JSP Park is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in JSP Park?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 250 per sq.ft results in a total guideline value of Rs 2,50,000, with stamp duty at 7% and registration fee at 2%.