Guideline Value for Jaganathan Nagar

Jaganathan Nagar guideline value

The current guideline value of Jaganathan Nagar, located in Kolathur village under the Sembiam Sub Registrar Office, is Rs 2,700 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Jaganathan Nagar has changed

The guideline value for Jaganathan Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 224 per sq.ft. This increased to Rs 243 per sq.ft in 2003, marking an increase of 8%. The next significant jump occurred in 2007, when the value rose to Rs 700 per sq.ft, reflecting a substantial increase of 188%. In 2012, the value remained unchanged at Rs 2,500 per sq.ft, but the 2023 revision saw it rise to Rs 2,500 per sq.ft again, with no change. The most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, which is an 8% increase from the previous year.

It is important to note that there are no figures available for the 2017 revision for this street. Overall, from the 2002 revision to the current 2024 revision, the guideline value has increased by 1,105%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Jaganathan Nagar is below this median.

• Jaganathan Salai / Street: Rs 4,400 per sq.ft (2024)
• Jagannathan 10th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 11th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 12th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 13th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 14th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jaganathan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. It is important to note that 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 Jaganathan Nagar?

The Sub Registrar Office that covers Jaganathan Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two is considered for calculating the stamp duty and registration fees, which ensures that the transaction is conducted transparently and in accordance with legal requirements.

Frequently asked questions

What is the current guideline value of Jaganathan Nagar?

The current guideline value of Jaganathan Nagar is Rs 2,700 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 224 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 1,105% over the years.

What is the land classification for Jaganathan Nagar?

Jaganathan Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Jaganathan Nagar is 7%, which is calculated based on the higher of the guideline value or the sale price.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it handles registrations for properties in Jaganathan Nagar.