Guideline Value for Jaganathan Street

Jaganathan Street guideline value

The current guideline value of Jaganathan Street is Rs 8,800 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 Residential Special Type - II.

How the guideline value of Jaganathan Street has changed

Over the years, the guideline value of Jaganathan Street has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 3,000 per sq.ft. This increased significantly to Rs 8,000 per sq.ft in 2012, marking a rise of 167%. However, the value then decreased to Rs 5,360 per sq.ft in 2017, a decline of 33%. The 2023 revision saw the value rise again to Rs 8,000 per sq.ft, followed by a further increase to Rs 8,800 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there are no recorded figures for Jaganathan Street in the years 2002 and 2003. The overall change from the 2007 revision to the current 2024 figure is an increase of 193%.

Guideline values in Nungambakkam

Nungambakkam village has a total of 270 streets under the Chennai Central Joint II SRO, with guideline values ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, which is equal to the current guideline value of Jaganathan Street.

• Jaganathan Road: Rs 9,900 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jaganathan Street?

The Sub Registrar Office that covers Jaganathan Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nungambakkam. It serves as a benchmark for calculating stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value helps determine the official valuation of the property. This valuation is essential for tax purposes and ensures that both parties are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Jaganathan Street?

The current guideline value of Jaganathan Street is Rs 8,800 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 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 193%.

What are the stamp duty and registration fees for property in Jaganathan Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 88,00,000, with a stamp duty of Rs 6,16,000 and a registration fee of Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office covers Jaganathan Street?

The Chennai Central Joint II Sub Registrar Office covers Jaganathan Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification for Jaganathan Street?

The land classification for Jaganathan Street is Residential Special Type - II, indicating its designated use for residential purposes.