Guideline Value for JAGANATHAN GARDEN

Jaganathan Garden guideline value

The current guideline value of Jaganathan Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Karapakkam village under the Neelankarai SRO, classified as Residential Class III Type - I.

How the guideline value of Jaganathan Garden has changed

The guideline value for Jaganathan Garden has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, which is an increase from Rs 1,000 per sq.ft in 2023. Prior to that, the 2017 revision recorded a value of Rs 670 per sq.ft, marking a significant increase of 49% to the 2023 figure. The 2012 revision also set the value at Rs 1,000 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, Jaganathan Garden has seen a total increase of 10% in its guideline value.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for Jaganathan Garden is below this median.

• Jagatheshwari / Devaendran Garden: Rs 1,100 per sq.ft (2024)
• INDIRA GANDHI STREET (Main): Rs 2,200 per sq.ft (2024)
• INDIRA GANDHI STREET 2nd STREET 1st & 2nd CROSS: Rs 2,200 per sq.ft (2024)
• Indira Gandhi First Cross Street: Rs 2,200 per sq.ft (2024)
• INDIRA GANDHI 2nd STREET: Rs 2,200 per sq.ft (2024)
• INDIRA GANDHI 1st STREET 3nd CROSS: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jaganathan Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jaganathan Garden?

The Sub Registrar Office that covers Jaganathan Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Karapakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the legal value of the property being transacted.

When a property is bought or sold, the guideline value helps determine the official price at which the property will be registered. This ensures transparency and compliance with legal requirements, as the fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Jaganathan Garden?

The current guideline value of Jaganathan Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, with notable increases in the years 2023 and 2012 as well.

What is the land classification for Jaganathan Garden?

Jaganathan Garden is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the registration office for Jaganathan Garden?

The Neelankarai Sub Registrar Office covers Jaganathan Garden and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Jaganathan Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.