Guideline Value for Advocate Janakiraman Street

Advocate Janakiraman Street guideline value

The current guideline value of Advocate Janakiraman Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Advocate Janakiraman Street has changed

The guideline value for Advocate Janakiraman Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a drop to Rs 1,005 per sq.ft in the 2017 revision. The value then increased significantly to Rs 1,500 per sq.ft in 2023, and the latest revision in 2024 has raised it to Rs 1,650 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a substantial increase of 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which matches the current guideline value of Advocate Janakiraman Street.

• Advocate Colony Ramanaidu Cross Street: Rs 1,650 per sq.ft (2024)
• Agananuru Street: Rs 1,650 per sq.ft (2024)
• Adiyaman Street: Rs 1,650 per sq.ft (2024)
• Agaththiyar Street: Rs 1,650 per sq.ft (2024)
• Abraham Lincoln Street: Rs 3,850 per sq.ft (2024)
• Abraham Lincoln 3rd cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Advocate Janakiraman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Advocate Janakiraman Street?

The Sub Registrar Office that covers Advocate Janakiraman Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees payable when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two 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 of Advocate Janakiraman Street?

The current guideline value of Advocate Janakiraman Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the classification of Advocate Janakiraman Street?

Advocate Janakiraman Street is classified as Residential Class I Type - III.

What are the other streets in Chitlapakkam with the same guideline value?

Other streets in Chitlapakkam with the same guideline value of Rs 1,650 per sq.ft include Advocate Colony Ramanaidu Cross Street, Agananuru Street, Adiyaman Street, Agaththiyar Street, and Abraham Lincoln 3rd cross Street.

Where is the Sub Registrar Office located for this street?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.