Guideline Value for Jini Nagar

Jini Nagar guideline value

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

How the guideline value of Jini Nagar has changed

The guideline value for Jini Nagar has undergone several revisions over the years. The 2007 revision recorded a value of Rs 275 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision. However, this value saw a decrease of 33% to Rs 804 per sq.ft in the 2017 revision. The 2023 revision maintained the same value of Rs 1,200 per sq.ft, which remained unchanged in the 2024 revision.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 336%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Madambakkam

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

• Jini City: 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 Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, leading to a total of Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Jini Nagar?

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

For further information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Madambakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

During the registration process, the guideline value is compared to the sale price of the property. The higher of the two values is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Jini Nagar?

The current guideline value of Jini Nagar 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 seen various changes, with the most recent revisions being Rs 1,200 per sq.ft for both 2023 and 2024. The value was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification for Jini Nagar?

Jini Nagar is classified as Commercial Special Type - I, indicating its suitability for commercial activities.

Where can I find the Gooduvancheri Sub Registrar Office?

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

What is the stamp duty on property transactions in Jini Nagar?

The stamp duty on property transactions in Jini Nagar is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000.