Guideline Value for JANAKIRAMAN STREET

Janakiraman Street guideline value

The current guideline value of Janakiraman Street in Seevaram village, under the Neelankarai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Janakiraman Street has changed

The guideline value for Janakiraman Street has undergone several revisions over the years. In 2012, the figure was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly by 49% to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 saw another increase of 10%, bringing the current value to Rs 3,300 per sq.ft. It is important to note that the register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2024, the overall change in the guideline value is a modest increase of 10%. The transition from 2017 to 2023 marked a notable rise of 49%, while the drop from 2012 to 2017 was a decrease of 33%.

Guideline values in Seevaram

In Seevaram, there are 84 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,300 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, placing Janakiraman Street's 2024 figure above this median.

• Industrial Estate: Rs 6,400 per sq.ft (2024)
• Karseem Salai: Rs 2,200 per sq.ft (2024)
• Ganapathi Nagar: Rs 2,800 per sq.ft (2024)
• Corporation Road: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,200 per sq.ft (2024)
• L.R.D.Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Janakiraman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Janakiraman Street?

The Sub Registrar Office that covers Janakiraman Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Seevaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with the legal requirements of property transactions.

When a property is sold, the guideline value is used to calculate the applicable fees, which can impact the overall cost of the transaction. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Janakiraman Street?

The current guideline value of Janakiraman Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Janakiraman Street?

Janakiraman Street is classified as Residential Class I Type - II.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees can be calculated accordingly.