Guideline Value for JANAKI AMMAL STREET

Janaki Ammal Street guideline value

The current guideline value of Janaki Ammal Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Residential Special Type - II.

How the guideline value of Janaki Ammal Street has changed

The guideline value for Janaki Ammal Street has seen several revisions over the years. In 2002, the value was Rs 776 per sq.ft, which increased to Rs 861 per sq.ft in 2003. The value then rose significantly to Rs 1,500 per sq.ft in 2007, followed by a jump to Rs 8,000 per sq.ft in 2012. However, it decreased to Rs 5,360 per sq.ft in 2017. The value then increased to Rs 8,000 per sq.ft in 2023, and finally, it is set at Rs 8,800 per sq.ft from 2024.

Between these revisions, notable changes include a 10% increase from 2023 to 2024, and a 49% increase from 2017 to 2023. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a remarkable increase of 433%. The overall change from 2002 to 2024 reflects an increase of 1,034%.

Guideline values in Mambalam

Mambalam village has 163 streets under the Thiyagaraya nagar SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Janaki Ammal Street's 2024 figure above this median.

• Jayaram Street: Rs 5,500 per sq.ft (2024)
• Jeenis Road: Rs 12,100 per sq.ft (2024)
• Jeer Naidu 2 Lane: Rs 5,000 per sq.ft (2024)
• Jeer Naidu 3 Lane: Rs 5,000 per sq.ft (2024)
• Jeer Naidu Ist Lane: Rs 5,000 per sq.ft (2024)
• Jeer Naidu Lane: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Janaki Ammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, while the registration fee at 2% would be Rs 1,76,000, bringing the total cost for these fees to Rs 7,92,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Janaki Ammal Street?

The Sub Registrar Office that covers Janaki Ammal Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mambalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer and seller must consider the guideline value for calculating the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Janaki Ammal Street?

The current guideline value of Janaki Ammal Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 776 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 1,034% over this period.

What is the land classification for Janaki Ammal Street?

Janaki Ammal Street is classified as Residential Special Type - II under the Thiyagaraya nagar SRO.

What are the stamp duty and registration fees for property on this street?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Where is the Sub Registrar Office for Janaki Ammal Street located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.