Guideline Value for Jini Skukriti

Jini Skukriti guideline value

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

How the guideline value of Jini Skukriti has changed

The guideline value for Jini Skukriti has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft. Following this, the 2023 revision brought the value back to Rs 1,200 per sq.ft, and the 2024 revision maintains this figure. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has remained stable with a 0% change.

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 for these streets is Rs 1,200 per sq.ft, which is equal to the current guideline value of Jini Skukriti.

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

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, making the total fees 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 also use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Jini Skukriti?

The Sub Registrar Office that covers Jini Skukriti 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 plays a crucial role in property transactions in Madambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

During the registration process, buyers and sellers must adhere to the guideline value to ensure compliance with local regulations. This helps maintain transparency in property transactions and provides a standardized approach to property valuation in the region.

Frequently asked questions

What is the current guideline value of Jini Skukriti?

The current guideline value of Jini Skukriti 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, including a decrease from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, followed by an increase back to Rs 1,200 per sq.ft in 2023 and 2024.

What is the land classification for Jini Skukriti?

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

Where can I find the registration office for Jini Skukriti?

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

How is stamp duty calculated for properties in Jini Skukriti?

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