Guideline Value for Jaganathapuram 2nd Cross Street

Jaganathapuram 2nd Cross Street guideline value

The current guideline value of Jaganathapuram 2nd Cross Street is Rs 4,400 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 II Type - II.

How the guideline value of Jaganathapuram 2nd Cross Street has changed

The guideline value for Jaganathapuram 2nd Cross Street has seen several revisions over the years. In 2002, the value was Rs 389 per sq.ft, which increased to Rs 436 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,800 per sq.ft in 2007, marking a 313% increase from 2002. In 2012, the value was recorded at Rs 4,000 per sq.ft, reflecting a 122% increase from the previous revision. However, there was a decrease to Rs 2,680 per sq.ft in 2017, which represented a 33% drop from 2012. The value then increased to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,031%. The register has no figures for the years not listed in the revisions.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO, with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current value of Jaganathapuram 2nd Cross Street.

• Jaganathapuram 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 1st Main Road: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Jaganathapuram 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 3rd Main Road: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 4th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jaganathapuram 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jaganathapuram 2nd Cross Street?

The Sub Registrar Office that covers Jaganathapuram 2nd Cross Street is 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, which means that buyers should be aware of the guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Jaganathapuram 2nd Cross Street?

The current guideline value of Jaganathapuram 2nd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 389 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 1,031% over the years.

What factors determine the stamp duty and registration fee?

The stamp duty and registration fee are calculated based on the higher of the guideline value or the sale price of the property. This ensures that the fees reflect the true value of the transaction.

Which office handles the registration of properties in Jaganathapuram 2nd Cross Street?

The Velacheri Sub Registrar Office handles the registration of properties in Jaganathapuram 2nd Cross Street. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

Are there any other streets with the same guideline value in Velachery?

Yes, there are several other streets in Velachery that share the same guideline value of Rs 4,400 per sq.ft, including Jaganathapuram 2nd Main Road, Jaganathapuram 1st Main Road, Jaganathapuram 3rd Cross Street, Jaganathapuram 3rd Main Road, and Jaganathapuram 4th Cross Street.