Guideline Value for Jaganathan Street

Jaganathan Street guideline value

The current guideline value of Jaganathan Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Jaganathan Street has changed

In the 2007 revision, the guideline value was Rs 700 per sq.ft. This figure increased significantly in the 2012 revision to Rs 2,000 per sq.ft, marking an increase of 186%. However, in the 2017 revision, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The most recent revision in 2024 saw a substantial increase to Rs 2,200 per sq.ft, which is an increase of 64% from the 2017 figure. There are no registered figures for the years 2023, 2003, and 2002 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 214%, reflecting the changes over the years. The current value of Rs 2,200 per sq.ft is notably higher than the previous revisions.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Jaganathan Street's guideline value above this median.

• Islambada: Rs 1,300 per sq.ft (2024)
• Inspector Subayarayalu Street: Rs 2,200 per sq.ft (2024)
• Jasvath street: Rs 1,300 per sq.ft (2024)
• Idream Mandra: Rs 6,000 per sq.ft (2024)
• Jayaram street: Rs 2,200 per sq.ft (2024)
• Jeer Street: Rs 1,300 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration fee would be Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the 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 Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

When buying or selling property in Tondaiarpet, the guideline value is used to determine the stamp duty and registration fees payable at the time of registration. This value is crucial as it helps in assessing the legal and financial obligations involved in the property transaction.

The guideline value ensures that the property is registered at a fair value, preventing undervaluation during transactions. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Jaganathan Street?

The current guideline value of Jaganathan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 214% over the years.

What is the land classification for Jaganathan Street?

Jaganathan Street is classified as Residential Class I Type - I, indicating its designation for residential use.

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

The Sub Registrar Office for Jaganathan Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Tondaiarpet?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the stamp duty would be Rs 1,54,000.