Guideline Value for JAGADEESWARAN STREET

Jagadeeswaran Street guideline value

The current guideline value of Jagadeeswaran Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Special Type - II.

How the guideline value of Jagadeeswaran Street has changed

The guideline value for Jagadeeswaran Street has undergone several revisions over the years. In 2002, the value was Rs 1,322 per sq.ft, which increased to Rs 1,468 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 3,200 per sq.ft in 2007, showing a substantial increase of 118%. Following this, the value jumped to Rs 9,000 per sq.ft in 2012, representing an increase of 181%. However, it decreased to Rs 6,030 per sq.ft in 2017, reflecting a decline of 33%. The value then saw a significant rise to Rs 9,000 per sq.ft in 2023, followed by a further increase to Rs 9,900 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 649%. The register has no figures for the years not mentioned above.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. Jagadeeswaran Street's 2024 figure is below this median.

• Jagadambal Street: Rs 17,600 per sq.ft (2024)
• Jawaharlal Nehru Street: Rs 6,600 per sq.ft (2024)
• Hospital Road Anna Road: Rs 5,500 per sq.ft (2024)
• Hindi Prachar Sabha Street: Rs 14,300 per sq.ft (2024)
• Hanumantha Rao Road(Street)(Cross Street): Rs 9,900 per sq.ft (2024)
• Habibullah Road (Part III Upto G.N.Chetty Street: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Jagadeeswaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, totaling Rs 8,91,000. 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 further calculations.

Which Sub Registrar Office covers Jagadeeswaran Street?

The Sub Registrar Office that covers Jagadeeswaran Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

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

Frequently asked questions

What is the current guideline value of Jagadeeswaran Street?

The current guideline value of Jagadeeswaran Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,322 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, marking an overall increase of 649% over the years.

What is the land classification of Jagadeeswaran Street?

Jagadeeswaran Street is classified as Residential Special Type - II.

Where can I find the registration office for Jagadeeswaran Street?

The registration office for Jagadeeswaran Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Tnagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.