Guideline Value for JAGANNATHAN STREET/ ACHARI STREET

Jagannathan Street/ Achari Street guideline value

The current guideline value of Jagannathan Street/ Achari Street in Chinnasekkadu village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Thiruvottiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Jagannathan Street/ Achari Street has changed

The guideline value for Jagannathan Street/ Achari Street has undergone several revisions over the years. The earliest recorded figure is from 2003, when the guideline value was Rs 182 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2007, and then jumped to Rs 1,200 per sq.ft in 2012. However, it decreased to Rs 804 per sq.ft in 2017. The value then rose to Rs 1,200 per sq.ft in 2023, before reaching the current rate of Rs 1,300 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 175% from 2003 to 2007, followed by a 140% rise from 2007 to 2012. The value then saw a decrease of 33% from 2012 to 2017, and a substantial increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects an 8% increase. Overall, from 2003 to 2024, the guideline value has increased by 614%.

Guideline values in Chinnasekkadu

Chinnasekkadu village has 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Jagannathan Street/ Achari Street is above this median, reflecting its current value of Rs 1,300 per sq.ft.

• Jagadeesh Nagar: Rs 1,001 per sq.ft (2024)
• Govindaswamy Street: Rs 1,001 per sq.ft (2024)
• Kakkanpuram / Radha Nagar / Kannapiran Street / Kannapiran Koil Street: Rs 1,001 per sq.ft (2024)
• Kalaignar Karunanithi Street: Rs 1,300 per sq.ft (2024)
• Kamalammal Nagar: Rs 1,001 per sq.ft (2024)
• Kamaraj Saiai: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jagannathan Street/ Achari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Jagannathan Street/ Achari Street?

The Sub Registrar Office that covers Jagannathan Street/ Achari Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chinnasekkadu. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the government receives the appropriate revenue from the transaction, reflecting the value of the property as per the local regulations. Buyers and sellers should be aware of these values to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Jagannathan Street/ Achari Street?

The current guideline value of Jagannathan Street/ Achari Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 182 per sq.ft in 2003 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 614% over the years.

What is the land classification for Jagannathan Street/ Achari Street?

Jagannathan Street/ Achari Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019, covers Jagannathan Street/ Achari Street.

How is stamp duty calculated for properties in Chinnasekkadu?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.