Guideline Value for JANAKIRAMAN COLONY

Janakiraman Colony guideline value

The current guideline value of Janakiraman Colony is Rs 7,700 per sq.ft, effective from 1 July 2024. This area is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Janakiraman Colony has changed

The guideline value for Janakiraman Colony has seen several revisions over the years. Starting with the 2007 revision, the value was Rs 1,350 per sq.ft. This increased significantly to Rs 7,000 per sq.ft in 2012, marking a substantial rise of 419%. However, in the 2017 revision, the value decreased to Rs 4,690 per sq.ft, a drop of 33%. The 2023 revision saw a notable increase to Rs 7,000 per sq.ft, followed by a further increase to Rs 7,700 per sq.ft in the 2024 revision, which is a 10% rise from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 470%.

There are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. The guideline value for Janakiraman Colony is above this median.

• Janakiraman Colony Extn: Rs 6,600 per sq.ft (2024)
• Jawaharlal Nehru Road (100 Feet Road): Rs 14,300 per sq.ft (2024)
• Jawahar Street: Rs 5,500 per sq.ft (2024)
• Jaganathan Street: Rs 6,000 per sq.ft (2024)
• Jaganathan Nagar I St Main Road: Rs 6,000 per sq.ft (2024)
• Jaganathan Nagar II Nd Main Road: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Janakiraman Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Janakiraman Colony?

The Sub Registrar Office that covers Janakiraman Colony is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Arumbakkam. It serves as a benchmark for calculating the stamp duty and registration fees required when buying or selling property.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Janakiraman Colony?

The current guideline value of Janakiraman Colony is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value of Janakiraman Colony changed over the years?

The guideline value has increased from Rs 1,350 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 470% over the years.

What is the land classification for Janakiraman Colony?

Janakiraman Colony is classified as Commercial Class I Type - II.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Janakiraman Colony?

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 77,00,000 would incur a stamp duty of Rs 5,39,000 at 7%.