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, effective from 1 July 2024. This property is located in Vadakal_B 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 seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 268 per sq.ft. This value remained unchanged at Rs 400 per sq.ft during the 2023 revision and continues to be Rs 400 per sq.ft in the 2024 revision, showing no increase between 2023 and 2024. Overall, from 2017 to 2024, the guideline value has increased by 49%.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street, indicating that the register has no figure for these years. The significant jump from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2024 reflects a consistent rate since 2023.

Guideline values in Vadakal_B

In Vadakal_B, there are 34 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,900 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing Jemi Garden Phase III's value above this median.

• 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 amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, making the total cost for these fees 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 details, 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Vadakal_B. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the government receives the correct amount of revenue based on the property's value.

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 remained at Rs 400 per sq.ft since the 2023 revision. It increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2024, reflecting a 49% increase overall since 2017.

What are the guideline values for other streets in Vadakal_B?

Other streets in Vadakal_B have varying guideline values, ranging from Rs 150 to Rs 1,900 per sq.ft. The median value is Rs 300 per sq.ft, and Jemi Garden Phase III is above this median.

What fees are associated with buying property in Jemi Garden Phase III?

When buying property, the stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 36,000.

Where can I find the Sub Registrar Office for Jemi Garden Phase III?

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