Guideline Value for JANAKI NAGAR - Janaki Radha Street

JANAKI NAGAR - Janaki Radha Street guideline value

The current guideline value of JANAKI NAGAR - Janaki Radha 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 is classified as Residential Class I Type - II.

How the guideline value of JANAKI NAGAR - Janaki Radha Street has changed

The guideline value for JANAKI NAGAR - Janaki Radha Street has undergone several revisions over the years. Starting from Rs 429 per sq.ft in 2002, it increased to Rs 467 per sq.ft in 2003. The value then rose significantly to Rs 650 per sq.ft in 2007, followed by a substantial jump to Rs 4,000 per sq.ft in 2012. However, it saw a decrease to Rs 2,680 per sq.ft in 2017 before climbing back to Rs 4,000 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft.

From 2017 to 2023, there was a 49% increase, and from 2023 to 2024, the increase was 10%. Notably, the value experienced a dramatic rise of 515% from 2007 to 2012. Overall, from 2002 to 2024, the guideline value has increased by 926%. There are no figures available for any other revisions for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, placing JANAKI NAGAR - Janaki Radha Street above this median.

• Janaki Nagar extension 6th Cross Street: Rs 4,400 per sq.ft (2024)
• JANAKI NAGAR - Janaki Street: Rs 4,400 per sq.ft (2024)
• Janaki Nagar extension 5th Cross Street: Rs 4,400 per sq.ft (2024)
• JANAKI NAGAR - Jeevanandam Road: Rs 4,400 per sq.ft (2024)
• Janaki Nagar extension 4th Cross Street: Rs 4,400 per sq.ft (2024)
• JANAKI NAGAR - K.Varadhan Street: Rs 4,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers JANAKI NAGAR - Janaki Radha Street?

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

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

The guideline value is a critical factor when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction. Buyers and sellers should be aware that the guideline value influences the overall cost of the property transaction.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

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

The current guideline value of JANAKI NAGAR - Janaki Radha 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 from Rs 429 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 926% over this period.

What is the land classification of JANAKI NAGAR - Janaki Radha Street?

JANAKI NAGAR - Janaki Radha Street is classified as Residential Class I Type - II.

Where can I find the registration office for this street?

The registration office for JANAKI NAGAR - Janaki Radha Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.