Guideline Value for JAGANATHAN STREET

Jaganathan Street guideline value

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

How the guideline value of Jaganathan Street has changed

Over the years, the guideline value of Jaganathan Street has seen several revisions. The earliest available figure is from 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 remarkable rise of 424%. However, between 2012 and 2017, the value decreased to Rs 3,685 per sq.ft, which is a decline of 33%. The value then surged to Rs 5,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 6,000 per sq.ft, which is a 9% increase from the previous year.

The register has no figures for Jaganathan Street for the years 2002 and 2003. 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 that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, which aligns with the 2024 figure for Jaganathan Street. Below are some other streets in Arumbakkam:

• Jaganathan Nagar I St Main Road: Rs 6,000 per sq.ft (2024)
• Jaganathan Nagar II Nd Main Road: Rs 6,000 per sq.ft (2024)
• Jaganathan Nagar: 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 Street

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, charged at 7%, would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000. Together, these fees amount to Rs 5,40,000. 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 Street?

The Sub Registrar Office that covers Jaganathan Street 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 during the registration of property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware that these 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 Street?

The current guideline value of Jaganathan Street 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, marking an overall increase of 471%.

What are the stamp duty and registration fees for property in Jaganathan Street?

The stamp duty is charged at 7% and the registration fee at 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 5,40,000.

Which office handles the registration for Jaganathan Street?

The Kodambakkam Sub Registrar Office handles the registration for Jaganathan Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

Are there other streets with the same guideline value in Arumbakkam?

Yes, several other streets in Arumbakkam have the same guideline value of Rs 6,000 per sq.ft, including Jaganathan Nagar I St Main Road, Jaganathan Nagar II Nd Main Road, and Jaganathan Nagar.