Guideline Value for JANAKI NAGAR - Nagarathinammal Street

JANAKI NAGAR - Nagarathinammal Street guideline value

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

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

The guideline value for JANAKI NAGAR - Nagarathinammal Street has seen significant changes over the years. In 2002, the guideline value was Rs 600 per sq.ft. This increased to Rs 652 per sq.ft in 2003, and then remained unchanged until 2007, when it rose dramatically to Rs 650 per sq.ft. The value then experienced a substantial increase to Rs 4,000 per sq.ft in 2012, followed by a decrease to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023 and is now set at Rs 4,400 per sq.ft for 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 633%. Notably, there are no figures available for the revisions in the years not listed in the register 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 value for these streets is Rs 3,850 per sq.ft, placing the 2024 figure for JANAKI NAGAR - Nagarathinammal Street above this median.

• JANAKI NAGAR - M.G.Y.Babu Street: Rs 4,400 per sq.ft (2024)
• JANAKI NAGAR - Nedumaran Street: Rs 4,400 per sq.ft (2024)
• JANAKI NAGAR - Mani Rajan Street: Rs 4,400 per sq.ft (2024)
• JANAKI NAGAR - Saraswathi Ramakrishnan Street: Rs 4,400 per sq.ft (2024)
• JANAKI NAGAR - Lamec Street: Rs 4,400 per sq.ft (2024)
• JANAKI NAGAR - S.Ganesan Street: Rs 4,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers JANAKI NAGAR - Nagarathinammal Street?

The Sub Registrar Office that covers JANAKI NAGAR - Nagarathinammal 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 during the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees. This helps in maintaining transparency in property transactions and ensures that both buyers and sellers are aware of the costs involved in the registration process.

Frequently asked questions

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

The current guideline value of JANAKI NAGAR - Nagarathinammal 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 600 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 633% over the years.

What is the land classification for JANAKI NAGAR - Nagarathinammal Street?

The land classification for JANAKI NAGAR - Nagarathinammal Street is Residential Class I Type - II.

Where is the Sub Registrar Office located for this street?

The Virugambakkam Sub Registrar Office is 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 with a guideline value of Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.