Guideline Value for Jemi Garden Phase III

Jemi Garden Phase III guideline value

The current guideline value of Jemi Garden Phase III is Rs 400 per sq.ft. This property is located in Vadakal village, under the Sriperumpudur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Jemi Garden Phase III has changed

The guideline value for Jemi Garden Phase III has undergone several revisions over the years. The 2007 revision set the value at Rs 150 per sq.ft, which increased significantly to Rs 400 per sq.ft in the 2012 revision. However, it saw a decrease to Rs 268 per sq.ft in the 2017 revision, before returning to Rs 400 per sq.ft in both the 2023 and 2024 revisions. Notably, the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the overall change from 2007 to 2024 reflects a substantial increase of 167%. The value remained stable at Rs 400 per sq.ft from 2023 to 2024, indicating no change during this period.

Guideline values in Vadakal

In Vadakal, there are 31 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value for Jemi Garden Phase III is above this median, reflecting its current valuation.

• Kaivalyam Nagar: Rs 500 per sq.ft (2024)
• Iswaryam Nagar: Rs 800 per sq.ft (2024)
• Kalaignar Nagar: Rs 200 per sq.ft (2024)
• Green Park: Rs 300 per sq.ft (2024)
• Green Housing Phase - III: Rs 300 per sq.ft (2024)
• Kari Vinayagar Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Jemi Garden Phase III

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jemi Garden Phase III?

The Sub Registrar Office that covers Jemi Garden Phase III is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Vadakal. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees.

Additionally, the guideline value ensures transparency and fairness in property transactions by standardizing property valuations across different areas. Buyers and sellers should always refer to the latest guideline values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Jemi Garden Phase III?

The current guideline value of Jemi Garden Phase III is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 150 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreasing to Rs 268 per sq.ft in 2017, and finally stabilizing at Rs 400 per sq.ft in both 2023 and 2024.

What is the land classification of Jemi Garden Phase III?

Jemi Garden Phase III is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Jemi Garden Phase III?

For a 1,000 sq.ft plot valued at Rs 4,00,000, the stamp duty would be Rs 28,000, and the registration fee would be Rs 8,000, totaling Rs 36,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Jemi Garden Phase III located?

The Sub Registrar Office for Jemi Garden Phase III is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.