Guideline Value for Jaganathan Street (Sundararaja Perumal Colony)

Jaganathan Street (Sundararaja Perumal Colony) guideline value

The current guideline value for Jaganathan Street (Sundararaja Perumal Colony) is Rs 4,200 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Mixed Type - I.

How the guideline value of Jaganathan Street (Sundararaja Perumal Colony) has changed

Over the years, the guideline value for Jaganathan Street has seen significant changes. The 2007 revision recorded a value of Rs 1,000 per sq.ft, which increased dramatically to Rs 3,900 per sq.ft in 2012, marking a rise of 290%. However, the value dropped to Rs 2,613 per sq.ft in 2017, a decrease of 33%. The following revision in 2023 saw the value increase to Rs 3,900 per sq.ft, and the most recent revision in 2024 has set the guideline value at Rs 4,200 per sq.ft, reflecting an 8% increase from 2023.

In summary, the guideline value has increased from Rs 1,000 per sq.ft in 2007 to Rs 4,200 per sq.ft in 2024, representing an overall increase of 320%. There are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. Jaganathan Street (Sundararaja Perumal Colony) has a guideline value above this median.

• Jaganathan Street (Vetri Nagar): Rs 4,200 per sq.ft (2024)
• Jaganathan Salai Lane: Rs 2,700 per sq.ft (2024)
• Jaganathan Salai: Rs 3,301 per sq.ft (2024)
• Jawahar Nagar 10 Feet Road: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar 1st Circular Road: Rs 4,200 per sq.ft (2024)
• Jawahar Nagar 1st Cross 1st Lane: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jaganathan Street (Sundararaja Perumal Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,200 per sq.ft, the total guideline value amounts to Rs 42,00,000. The stamp duty at 7% would be Rs 2,94,000, and the registration fee at 2% would be Rs 84,000, making the total cost for these fees Rs 3,78,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Jaganathan Street (Sundararaja Perumal Colony)?

The Sub Registrar Office that covers Jaganathan Street (Sundararaja Perumal Colony) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Peravallur. When buying or selling property, this value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the legal financial obligations involved in the transaction.

It is crucial for buyers and sellers to understand that the guideline value is determined by the government and reflects the market rate for properties in the area. This value must be considered during the registration process to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Jaganathan Street (Sundararaja Perumal Colony)?

The current guideline value of Jaganathan Street (Sundararaja Perumal Colony) is Rs 4,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,000 per sq.ft in 2007 to Rs 4,200 per sq.ft in 2024, with various changes recorded in between, including a drop in 2017 and subsequent increases in 2023 and 2024.

What is the classification of land on Jaganathan Street?

The land classification for Jaganathan Street (Sundararaja Perumal Colony) is Mixed Type - I, indicating a blend of residential and commercial usage.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a property valued at Rs 42,00,000, the total fees would amount to Rs 3,78,000.

Where can I find the Sub Registrar Office for Jaganathan Street?

The Sub Registrar Office covering Jaganathan Street (Sundararaja Perumal Colony) is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles all registration processes for the area.