Guideline Value for JAGADAMBIKAI STREET

Jagadambikai Street guideline value

The current guideline value of Jagadambikai Street in Padi village, under the Villivakkam SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - II land classification.

How the guideline value of Jagadambikai Street has changed

The guideline value for Jagadambikai Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 499 per sq.ft. It increased to Rs 560 per sq.ft in 2003, followed by a significant rise to Rs 850 per sq.ft in 2007. The value then surged to Rs 3,100 per sq.ft in the 2012 revision, before dropping to Rs 2,077 per sq.ft in 2017. The most recent revisions saw the value increase to Rs 3,100 per sq.ft in 2023, and then to Rs 3,400 per sq.ft in 2024.

Between the revisions, notable changes include an increase of 12% from 2002 to 2003, a 52% increase from 2003 to 2007, a substantial 265% rise from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a 49% increase from 2017 to 2023. The latest revision from 2023 to 2024 shows a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 581%.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing Jagadambikai Street's 2024 guideline value below this median.

• Jagadambikai Nagar 'sekhizhar Street': Rs 3,400 per sq.ft (2024)
• Jagadambikai Nagar (Padi): Rs 3,400 per sq.ft (2024)
• Jagadambikai Nagar 'nammalvar Street': Rs 3,400 per sq.ft (2024)
• Jagadambikai Nagar 'manikavasakar Street': Rs 3,400 per sq.ft (2024)
• Jagadambikai Nagar 'easwaran Koil Street': Rs 3,400 per sq.ft (2024)
• Jagadambikai Nagar 'appar Street': Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jagadambikai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, making the total fees Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jagadambikai Street?

The Sub Registrar Office that covers Jagadambikai Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Padi. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the officially recognized value of the property.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall transaction costs. Buyers should ensure that they are prepared for these fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Jagadambikai Street?

The current guideline value of Jagadambikai Street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 499 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 581% over this period.

What are the registration fees for property in Jagadambikai Street?

For a property valued at Rs 34,00,000, the registration fees would include a stamp duty of Rs 2,38,000 and a registration fee of Rs 68,000, totaling Rs 3,06,000.

Which office handles property registration for Jagadambikai Street?

The Villivakkam Sub Registrar Office handles property registration for Jagadambikai Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value for streets in Padi?

The median guideline value for streets in Padi is Rs 3,800 per sq.ft, which is higher than the current value of Jagadambikai Street.