Guideline Value for John Vasu st extn. ( Ward No.4 )

John Vasu st extn. ( Ward No.4 ) guideline value

The current guideline value for John Vasu st extn. ( Ward No.4 ) is Rs 1,300 per sq.ft, effective from the 2024 revision. This street is located in Madhavaram village, under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of John Vasu st extn. ( Ward No.4 ) has changed

The guideline value for John Vasu st extn. has undergone several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 1,300 per sq.ft, marking an 8% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value saw a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has increased by 62%, reflecting the updates in the registration department's records.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for John Vasu st extn. is below this median.

• John Vasu st ( Ward No.4 ): Rs 1,300 per sq.ft (2024)
• Jothi Nagar: Rs 1,300 per sq.ft (2024)
• J.J. Nagar Extension: Rs 2,200 per sq.ft (2024)
• Jothi Nagar Extention (Ward 29): Rs 1,300 per sq.ft (2024)
• Jothi Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Jothi Nagar (Ward-29): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in John Vasu st extn. ( Ward No.4 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers John Vasu st extn. ( Ward No.4 )?

The Sub Registrar Office that covers John Vasu st extn. ( Ward No.4 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for additional information.

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

The guideline value plays a crucial role during property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for John Vasu st extn.?

The current guideline value for John Vasu st extn. ( Ward No.4 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 62% during this period.

What is the land classification for John Vasu st extn.?

John Vasu st extn. is classified as Residential Class III Type - I according to the registration department's records.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for John Vasu st extn.?

The Madhavaram Sub Registrar Office is responsible for handling registrations for John Vasu st extn. ( Ward No.4 ), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.