Guideline Value for Jaganathan Road

Jaganathan Road guideline value

The current guideline value of Jaganathan Road is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Jaganathan Road has changed

The guideline value for Jaganathan Road has seen several revisions over the years. In 2007, the value was Rs 7,485 per sq.ft, which increased to Rs 9,000 per sq.ft in 2012, marking a 20% rise. However, from 2012 to 2017, the value decreased to Rs 6,030 per sq.ft, a decline of 33%. The value then increased significantly to Rs 9,000 per sq.ft in 2023, representing a 49% rise. The most recent revision in 2024 set the guideline value at Rs 9,900 per sq.ft, a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 32%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, which means that Jaganathan Road's 2024 figure is above this median.

• Jaganathan Street: Rs 8,800 per sq.ft (2024)
• Jambulingam Road: Rs 8,800 per sq.ft (2024)
• Jayalakshmipuram 1st Street: Rs 7,700 per sq.ft (2024)
• Jayalakshmipuram 2nd Street: Rs 7,700 per sq.ft (2024)
• Jayalakshmipuram 3rd Street: Rs 7,700 per sq.ft (2024)
• Jayalakshmipuram 4th Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jaganathan Road

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total cost for these fees to Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Jaganathan Road?

The Sub Registrar Office that covers Jaganathan Road is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of properties in Nungambakkam. It helps determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value serves as a benchmark for property transactions, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling a property, it is essential to be aware of the current guideline value as it influences the overall cost of the transaction. Buyers should ensure that they account for these fees in their budget when considering a property purchase.

Frequently asked questions

What is the current guideline value of Jaganathan Road?

The current guideline value of Jaganathan Road is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,485 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, with several revisions in between, including a significant increase from Rs 6,030 per sq.ft in 2017 to Rs 9,000 per sq.ft in 2023.

What is the median guideline value for streets in Nungambakkam?

The median guideline value for streets in Nungambakkam is Rs 8,800 per sq.ft, making Jaganathan Road's value above this median.

What are the stamp duty and registration fees for properties on Jaganathan Road?

For a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000, and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000.

Where is the Sub Registrar Office for Jaganathan Road located?

The Sub Registrar Office covering Jaganathan Road is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.