Guideline Value for JAGANATHAPURAM CROSS STREET

Jaganathapuram Cross Street guideline value

The current guideline value for Jaganathapuram Cross Street is Rs 2,200 per sq.ft. This street is located in Jelandianpettai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Jaganathapuram Cross Street has changed

The guideline value for Jaganathapuram Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has further raised it to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes between revisions show a significant increase from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, which is a 49% increase over that period. The overall change from the 2012 revision to the 2024 revision is a 10% increase, reflecting the fluctuations in the guideline values over the years.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value of these streets is Rs 2,200 per sq.ft, which is equal to the guideline value of Jaganathapuram Cross Street.

• Jaganathapuram: Rs 2,200 per sq.ft (2024)
• Jaganathan Street: Rs 2,200 per sq.ft (2024)
• Jagatha Nagar: Rs 2,200 per sq.ft (2024)
• Isha Homes: Rs 2,750 per sq.ft (2024)
• Jansirani Street: Rs 2,200 per sq.ft (2024)
• Jayachandran Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Jaganathapuram Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, charged at 7%, would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jaganathapuram Cross Street?

The Jaganathapuram Cross Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the buyer must ensure that the transaction is registered at the appropriate Sub Registrar Office, where the guideline value will be used to calculate the applicable fees. This ensures that the transaction is legally recognized and that all necessary taxes are paid accordingly.

Frequently asked questions

What is the current guideline value for Jaganathapuram Cross Street?

The current guideline value for Jaganathapuram Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, with several revisions in between, including a decrease to Rs 1,340 per sq.ft in 2017 before increasing again.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Jaganathapuram Cross Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Jaganathapuram Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Jaganathapuram Cross Street?

The land classification for Jaganathapuram Cross Street is Residential Class II Type - I, indicating its suitability for residential development.