Guideline Value for Jini City

Jini City guideline value

The current guideline value of Jini City, located in Madambakkam village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Commercial Special Type - I.

How the guideline value of Jini City has changed

The guideline value for Jini City has seen several revisions over the years. The earliest recorded revision was in 2007, when the value was Rs 750 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, followed by a decrease to Rs 804 per sq.ft in 2017. The value then remained stable at Rs 1,200 per sq.ft in both the 2023 and 2024 revisions.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The overall change from 2007 to 2024 shows an increase of 60%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 800 to Rs 2,000 per sq.ft. The median guideline value is Rs 1,200 per sq.ft, which is the same as the current value for Jini City.

• Jini Nagar: Rs 1,200 per sq.ft (2024)
• Jini Nagar Extn: Rs 1,200 per sq.ft (2024)
• Jini Skukriti: Rs 1,200 per sq.ft (2024)
• Kamadenu Nagar: Rs 1,200 per sq.ft (2024)
• Kanchi Kamakotti Nagar: Rs 1,200 per sq.ft (2024)
• Karthik Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jini City

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. 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 more details.

Which Sub Registrar Office covers Jini City?

The Sub Registrar Office that covers Jini City is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Madambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official valuation of the property.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency in transactions and helps the government collect the appropriate taxes based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Jini City?

The current guideline value of Jini City is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, decreased to Rs 804 per sq.ft in 2017, and remained at Rs 1,200 per sq.ft in both 2023 and 2024.

What is the land classification of Jini City?

Jini City is classified as Commercial Special Type - I, which reflects its intended use for commercial purposes.

Where can I find the Sub Registrar Office for Jini City?

The Sub Registrar Office for Jini City is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Jini City?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 12,00,000, the stamp duty at 7% would be Rs 84,000.