Guideline Value for JAGATHA NAGAR

Jagatha Nagar guideline value

The current guideline value of Jagatha Nagar, located in Jelandianpettai village, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Jagatha Nagar has changed

The guideline value for Jagatha Nagar has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 300 per sq.ft. This figure increased significantly in 2012 to Rs 2,000 per sq.ft, marking a rise of 567%. However, in 2017, the value dropped to Rs 1,340 per sq.ft, which was a decrease of 33%. The value then increased again to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 633%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Jelandianpettai

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

• Jaganathapuram Cross Street: Rs 2,200 per sq.ft (2024)
• Jaganathapuram: Rs 2,200 per sq.ft (2024)
• Jaganathan Street: 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 Jagatha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is essential to note that the 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 further calculations.

Which Sub Registrar Office covers Jagatha Nagar?

The Sub Registrar Office that covers Jagatha Nagar is 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 minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a buyer approaches the registration office, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency and helps in maintaining a standard valuation for properties within the locality.

Frequently asked questions

What is the current guideline value of Jagatha Nagar?

The current guideline value of Jagatha Nagar 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 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting a significant increase of 633% over the years.

What is the land classification of Jagatha Nagar?

Jagatha Nagar is classified as Residential Class II Type - I under the Chennai South Joint I SRO.

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

The Sub Registrar Office for Jagatha Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.