Guideline Value for Jam Jam Nagar II

Jam Jam Nagar II guideline value

The current guideline value of Jam Jam Nagar II is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Vilvarayanalloor village under the Madurandakam SRO, classified as Residential Special Type - I.

How the guideline value of Jam Jam Nagar II has changed

The guideline value for Jam Jam Nagar II has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 40 per sq.ft. This increased significantly to Rs 200 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value decreased to Rs 134 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 200 per sq.ft in both 2023 and 2024, showing no change between these two revisions.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 400%. The register has no figure for the years 2002 and 2003 for this street.

Guideline values in Vilvarayanalloor

In Vilvarayanalloor, there are 23 streets under the Madurandakam SRO with a 2024 guideline value ranging from Rs 101 to Rs 300 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, which is the same as the guideline value for Jam Jam Nagar II.

• Jam Jam Nagar: Rs 200 per sq.ft (2024)
• Iswaryam Nagar Phase-VI: Rs 200 per sq.ft (2024)
• Iswaryam Nagar Phase-V: Rs 200 per sq.ft (2024)
• Iswaryam Nagar Phase-IV: Rs 200 per sq.ft (2024)
• Iswaryam Nagar Phase-III: Rs 200 per sq.ft (2024)
• Iswaryam Nagar Phase - II: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Jam Jam Nagar II

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total cost for these charges Rs 18,000. 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 the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Jam Jam Nagar II?

The Sub Registrar Office that covers Jam Jam Nagar II 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 Vilvarayanalloor

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Vilvarayanalloor, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties comply with legal requirements.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any disputes during the registration process. The guideline value can also influence negotiations between buyers and sellers, as it provides a baseline for property valuation.

Frequently asked questions

What is the current guideline value of Jam Jam Nagar II?

The current guideline value of Jam Jam Nagar II is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 40 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and returned to Rs 200 per sq.ft in 2023 and 2024.

What is the stamp duty rate for properties in Jam Jam Nagar II?

The stamp duty rate for properties in Jam Jam Nagar II is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Jam Jam Nagar II?

The Sub Registrar Office for Jam Jam Nagar II is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the median guideline value for streets in Vilvarayanalloor?

The median guideline value for streets in Vilvarayanalloor is Rs 200 per sq.ft, which is the same as the guideline value for Jam Jam Nagar II.