Guideline Value for JANANI NAGAR

Janani Nagar guideline value

The current guideline value of Janani Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. Janani Nagar is located in Korattur village, under the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - III.

How the guideline value of Janani Nagar has changed

The guideline value for Janani Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 250 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 500% increase. However, from 2012 to 2017, the value dropped to Rs 1,005 per sq.ft, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, reflecting a 59% increase from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for Janani Nagar. Overall, from the initial figure in 2007 to the current value in 2024, there has been a substantial increase of 540%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value for Janani Nagar is below this median.

• Jasmin Nagar: Rs 1,300 per sq.ft (2024)
• JAMBUGESWARA NAGAR (Kovil Land): Rs 1,600 per sq.ft (2024)
• Jambugeswara Nagar High Road: Rs 1,300 per sq.ft (2024)
• Jambugeswara Nagar 9th Street: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 8th STREET: Rs 1,600 per sq.ft (2024)
• JAMBUGESWARA NAGAR 7th STREET: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Janani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. 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 Janani Nagar?

The Sub Registrar Office that covers Janani Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Korattur. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value will influence the stamp duty and registration fees applicable during the transaction.

During the registration process, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Janani Nagar?

The current guideline value of Janani Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 250 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 540%.

What are the other streets in Korattur with their guideline values?

Other streets in Korattur include Jasmin Nagar at Rs 1,300 per sq.ft, JAMBUGESWARA NAGAR (Kovil Land) at Rs 1,600 per sq.ft, and several others with varying rates.

What are the stamp duty and registration fees for property in Janani Nagar?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office should I contact for registration in Janani Nagar?

The Villivakkam Sub Registrar Office covers Janani Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.