Guideline Value for JAGANATHAN NAGAR

Jaganathan Nagar guideline value

The current guideline value of Jaganathan Nagar is Rs 6,000 per sq.ft, effective from 1 July 2024. This area is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Jaganathan Nagar has changed

The guideline value for Jaganathan Nagar has seen several revisions over the years. In 2007, the value was Rs 1,050 per sq.ft, which increased to Rs 5,500 per sq.ft in 2012. However, this figure saw a decrease of 33% to Rs 3,685 per sq.ft in 2017. The value then rose significantly to Rs 5,500 per sq.ft in 2023, before reaching the current value of Rs 6,000 per sq.ft in 2024, marking a 9% increase.

There are no figures available for the years 2002 and 2003 for Jaganathan Nagar. Overall, from 2007 to 2024, the guideline value has increased by 471%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO carrying a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. Jaganathan Nagar's 2024 figure aligns with this median.

• Jaganathan Nagar II Nd Main Road: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be 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, bringing the total cost for these fees to Rs 5,40,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jaganathan Nagar?

The Sub Registrar Office that covers Jaganathan Nagar 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 details.

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

The guideline value is a crucial factor in property transactions in Arumbakkam, as it is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to calculate the applicable duties.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with the legal requirements. This value is updated periodically, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Jaganathan Nagar?

The current guideline value of Jaganathan Nagar 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, marking a total increase of 471% over this period.

What is the land classification for Jaganathan Nagar?

Jaganathan Nagar is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for Jaganathan Nagar?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Jaganathan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 60,00,000 would incur a stamp duty of Rs 4,20,000 at 7%.