Guideline Value for Jaganathapuram 5th Cross Street

Jaganathapuram 5th Cross Street guideline value

The current guideline value of Jaganathapuram 5th 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 5th Cross Street has changed

The guideline value has seen significant changes over the years. In 2002, the value was Rs 389 per sq.ft, which increased to Rs 436 per sq.ft in 2003, marking a 12% rise. The next revision in 2007 saw a substantial increase to Rs 1,800 per sq.ft, reflecting a 313% change. Following this, the value rose to Rs 4,000 per sq.ft in 2012, which was a 122% increase from the previous figure.

The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, a 10% increase from the 2012 figure. Overall, from 2002 to 2024, the guideline value has increased by 1031% across these revisions. The register has no figures for the years 2017 and 2023 for this street.

Guideline values in Velachery

In Velachery, there are a total of 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 is Rs 4,400 per sq.ft, which is the same as the current value for Jaganathapuram 5th Cross Street.

• Jaganathapuram 4th Main Road: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 5th Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 6th Cross Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 6th Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 3rd Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jaganathapuram 5th 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 amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 further calculations.

Which Sub Registrar Office covers Jaganathapuram 5th Cross Street?

The Jaganathapuram 5th 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 factor when registering property transactions in Velachery. It serves as a benchmark for determining the value of the property, ensuring that the appropriate stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers should ensure that they are aware of the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Jaganathapuram 5th Cross Street?

The current guideline value of Jaganathapuram 5th 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 significantly from Rs 389 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 1031% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations for Jaganathapuram 5th Cross Street?

The Velacheri Sub Registrar Office handles property registrations for Jaganathapuram 5th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Jaganathapuram 5th Cross Street?

The land classification for Jaganathapuram 5th Cross Street is Residential Class II Type - II.