Guideline Value for Jaya Garden

Jaya Garden guideline value

The current guideline value of Jaya Garden, located in Madhavaram village under the Madhavaram SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Jaya Garden has changed

The guideline value for Jaya Garden has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, which is an increase of 7% from the 2023 revision, where the value was Rs 1,500 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the guideline value had not been recorded for Jaya Garden in the earlier years mentioned. The consistent updates reflect the ongoing adjustments in property values within the Madhavaram area.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, which aligns with the guideline value for Jaya Garden.

• Jayalakshmi Complex / Garden: Rs 2,200 per sq.ft (2024)
• Jayalakshmi Garden 1st Cross St (Ward-03): Rs 2,200 per sq.ft (2024)
• Jayalakshmi Garden 1st st (Ward No.3): Rs 2,200 per sq.ft (2024)
• Jayalakshmi Garden 2nd Cross St (Ward-03): Rs 2,200 per sq.ft (2024)
• Jayalakshmi Garden 2nd st (Ward No.3): Rs 2,200 per sq.ft (2024)
• Jayalakshmi Garden 3rd Cross Street (Ward-03): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jaya Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Jaya Garden?

The Sub Registrar Office that covers Jaya Garden is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the higher value between the guideline value and the sale price is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Jaya Garden?

The current guideline value of Jaya Garden is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, marking a 7% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification of Jaya Garden?

Jaya Garden is classified as Residential Class II Type - I, indicating its use for residential purposes.

What are the stamp duty rates for property in Jaya Garden?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. For example, on a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000.

Where is the Sub Registrar Office for Jaya Garden located?

The Sub Registrar Office for Jaya Garden is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.