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Guideline Value

Corporate

Guideline Value for Jaganathapuram 1st Cross Street

₹5500/sq.ft.

The guideline value for Jaganathapuram 1st Cross Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 5500 per sq.ft, effective 1 July 2024. It was Rs 5000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹5500 /sq.ft.
From 1-4-2023 ₹5000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3350 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Jaganathapuram 1st Cross Street

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Jaganathapuram 1st Cross Street guideline value

The current guideline value of Jaganathapuram 1st Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Jaganathapuram 1st Cross Street has changed

The guideline value for Jaganathapuram 1st Cross Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a remarkable growth of 178%. However, the value decreased to Rs 3,350 per sq.ft in the 2017 revision, a decline of 33%. The 2023 revision then raised the value to Rs 5,000 per sq.ft, followed by a further increase to Rs 5,500 per sq.ft in the 2024 revision, which is a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 206%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Jaganathapuram 1st Cross Street above this median.

Stamp duty and registration fee for property in Jaganathapuram 1st Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jaganathapuram 1st Cross Street?

The Jaganathapuram 1st Cross Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial figure used during the registration of property transactions in Velachery. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is bought or sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers and sellers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Jaganathapuram 1st Cross Street?

The current guideline value of Jaganathapuram 1st Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 206% over the years.

What is the stamp duty for properties in Jaganathapuram 1st Cross Street?

The stamp duty for properties in Jaganathapuram 1st Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I visit for transactions in Jaganathapuram 1st Cross Street?

The Velacheri Sub Registrar Office covers transactions for Jaganathapuram 1st Cross Street. The office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Jaganathapuram 1st Cross Street?

The land classification for Jaganathapuram 1st Cross Street is Residential Class I Type - III, indicating its suitability for residential development.