Guideline Value for JANAKI NAGAR - Dhanalakshmi Street

JANAKI NAGAR - Dhanalakshmi Street guideline value

The current guideline value for JANAKI NAGAR - Dhanalakshmi Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and falls under the Residential Class I Type - II land classification.

How the guideline value of JANAKI NAGAR - Dhanalakshmi Street has changed

Over the years, the guideline value of JANAKI NAGAR - Dhanalakshmi Street has seen significant changes. The earliest recorded value in the register is from 2002, at Rs 429 per sq.ft. This figure increased to Rs 467 per sq.ft in 2003, marking a 9% rise. The value continued to rise to Rs 650 per sq.ft in 2007, which is a 39% increase from the previous year. In 2012, the guideline value was Rs 4,000 per sq.ft, reflecting a substantial increase of 515% from 2007. However, by 2017, the value dropped to Rs 2,680 per sq.ft, indicating a decrease of 33%. The guideline value then increased to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, which is a 10% rise from the previous year.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 926%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value for JANAKI NAGAR - Dhanalakshmi Street is above this median.

• JANAKI NAGAR - Chellamman Street: Rs 4,400 per sq.ft (2024)
• Janaki Nagar extension 1st Cross Street: Rs 4,400 per sq.ft (2024)
• JANAKI NAGAR - Chellammal Street (6th Street): Rs 4,400 per sq.ft (2024)
• Janaki Nagar extension 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• JANAKI NAGAR - A.V.Krishnaswamy Street: Rs 4,400 per sq.ft (2024)
• Janaki Nagar extension 3rd Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in JANAKI NAGAR - Dhanalakshmi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty is charged at 7%, resulting in Rs 3,08,000, while the registration fee is 2%, amounting to Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. 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 JANAKI NAGAR - Dhanalakshmi Street?

The Sub Registrar Office that covers JANAKI NAGAR - Dhanalakshmi Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Valasaravakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue based on the established values for various properties.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost involved in the transaction. Understanding these values can help in planning the financial aspects of property dealings effectively.

Frequently asked questions

What is the current guideline value of JANAKI NAGAR - Dhanalakshmi Street?

The current guideline value of JANAKI NAGAR - Dhanalakshmi Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, with the value increasing from Rs 429 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 926%.

What are the other streets with the same guideline value in Valasaravakkam?

Other streets in Valasaravakkam with the same guideline value of Rs 4,400 per sq.ft include JANAKI NAGAR - Chellamman Street, Janaki Nagar extension 1st Cross Street, JANAKI NAGAR - Chellammal Street (6th Street), Janaki Nagar extension 2nd Cross Street, JANAKI NAGAR - A.V.Krishnaswamy Street, and Janaki Nagar extension 3rd Cross Street.

What is the role of the Sub Registrar Office in property transactions?

The Sub Registrar Office is responsible for the registration of property transactions, ensuring that the correct guideline values are applied for calculating stamp duty and registration fees. It serves as the official authority for property registrations in the area.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate for stamp duty in this area is 7% of the guideline value.