Guideline Value for Jini Nagar Extn

Jini Nagar Extn guideline value

The current guideline value of Jini Nagar Extn is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village under the Gooduvancheri SRO, classified as Commercial Special Type - I.

How the guideline value of Jini Nagar Extn has changed

The guideline value for Jini Nagar Extn has seen several revisions over the years. In the 2007 revision, the value was set at Rs 175 per sq.ft. This increased significantly in the 2012 revision to Rs 1,200 per sq.ft, marking a change of +586%. However, in the 2017 revision, the value decreased to Rs 804 per sq.ft, representing a decline of -33%. The 2023 revision maintained the value at Rs 1,200 per sq.ft. The current 2024 revision also holds the value at Rs 1,200 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value is Rs 1,200 per sq.ft, which is equal to the guideline value of Jini Nagar Extn.

• Jini Nagar: Rs 1,200 per sq.ft (2024)
• Jini Skukriti: Rs 1,200 per sq.ft (2024)
• Jini City: 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 Nagar Extn

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, making the total charges Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jini Nagar Extn?

The Jini Nagar Extn area falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Madambakkam. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal and financial obligations during the registration process.

When registering a property, the guideline value helps determine the minimum price at which a property can be sold. This ensures transparency and fairness in property transactions, preventing undervaluation.

Frequently asked questions

What is the current guideline value of Jini Nagar Extn?

The current guideline value of Jini Nagar Extn 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 175 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, and remained at Rs 1,200 per sq.ft in 2023 and 2024.

What is the land classification of Jini Nagar Extn?

Jini Nagar Extn is classified as Commercial Special Type - I.

Where can I find the Sub Registrar Office for Jini Nagar Extn?

The Gooduvancheri Sub Registrar Office covers Jini Nagar Extn, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Jini Nagar Extn?

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.