Guideline Value for JAGANATHAN NAGAR I ST MAIN ROAD

Jaganathan Nagar I St Main Road guideline value

The current guideline value for Jaganathan Nagar I St Main Road is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO and is classified as Residential Special Type - II.

How the guideline value of Jaganathan Nagar I St Main Road has changed

The guideline value for Jaganathan Nagar I St Main Road has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 1,050 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, marking a rise of 424%. However, it then decreased to Rs 3,685 per sq.ft in 2017, a drop of 33%. The value continued to rise to Rs 5,500 per sq.ft in 2023, and then reached Rs 6,000 per sq.ft in 2024, representing a 9% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 471%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value is Rs 6,000 per sq.ft, which is equal to the current value of Jaganathan Nagar I St Main Road.

• Jaganathan Nagar II Nd Main Road: Rs 6,000 per sq.ft (2024)
• Jaganathan Nagar: Rs 6,000 per sq.ft (2024)
• Jaganathan Street: Rs 6,000 per sq.ft (2024)
• Indirani Cross Street: Rs 5,300 per sq.ft (2024)
• Janakiraman Colony: Rs 7,700 per sq.ft (2024)
• Janakiraman Colony Extn: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Jaganathan Nagar I St Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, leading to a total of Rs 5,40,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jaganathan Nagar I St Main Road?

The Sub Registrar Office that covers Jaganathan Nagar I St Main Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property transaction occurs, the buyer must pay the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and legally.

Frequently asked questions

What is the current guideline value of Jaganathan Nagar I St Main Road?

The current guideline value of Jaganathan Nagar I St Main Road is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,050 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, showing an overall increase of 471% over the years.

What is the land classification for Jaganathan Nagar I St Main Road?

Jaganathan Nagar I St Main Road is classified as Residential Special Type - II.

Where can I find the registration office for Jaganathan Nagar I St Main Road?

The registration office for Jaganathan Nagar I St Main Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Jaganathan Nagar I St Main Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.