Guideline Value for JAGANATHAN NAGAR II ND MAIN ROAD

Jaganathan Nagar II Nd Main Road guideline value

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

How the guideline value of Jaganathan Nagar II Nd Main Road has changed

The guideline value for Jaganathan Nagar II Nd Main Road has undergone several revisions over the years. Starting from Rs 1,050 per sq.ft in 2007, it increased significantly to Rs 5,500 per sq.ft in 2012. However, it then decreased to Rs 3,685 per sq.ft in 2017. The 2023 revision set the value at Rs 5,500 per sq.ft, which was then raised to Rs 6,000 per sq.ft in 2024, marking a 9% increase from the previous year.

Between the revisions, the guideline value saw substantial changes. From 2007 to 2012, there was a remarkable increase of 424%. The value then decreased by 33% from 2012 to 2017, followed by a significant increase of 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 471%. 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 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, which is also the current value for Jaganathan Nagar II Nd Main Road.

• Jaganathan Nagar: Rs 6,000 per sq.ft (2024)
• Jaganathan Nagar I St Main Road: 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 II Nd 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, totaling Rs 5,40,000. 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 more details.

Which Sub Registrar Office covers Jaganathan Nagar II Nd Main Road?

The Sub Registrar Office that covers Jaganathan Nagar II Nd 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 is a crucial factor when buying or selling property in Arumbakkam, as it determines the official value of the property for registration purposes. Buyers and sellers must consider this value to calculate the stamp duty and registration fees applicable during the transaction.

When a property is registered, the guideline value is used to assess the applicable fees, ensuring compliance with local regulations. This value serves as a benchmark for both buyers and sellers to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value for Jaganathan Nagar II Nd Main Road?

The current guideline value for Jaganathan Nagar II Nd 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 changed from Rs 1,050 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, with notable increases and decreases in between, including a 471% overall increase from 2007 to 2024.

What is the land classification for Jaganathan Nagar II Nd Main Road?

Jaganathan Nagar II Nd Main Road is classified as Residential Special Type - II under the Kodambakkam SRO.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Where can I find the Sub Registrar Office for this property?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. This office covers Jaganathan Nagar II Nd Main Road.