Guideline Value for Jaganathapuram 6th Cross Street

Jaganathapuram 6th Cross Street guideline value

The current guideline value of Jaganathapuram 6th 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, classified as Residential Class II Type - II.

How the guideline value of Jaganathapuram 6th Cross Street has changed

The guideline value for Jaganathapuram 6th Cross Street has seen several revisions over the years. Starting from Rs 389 per sq.ft in 2002, it increased to Rs 436 per sq.ft in 2003, marking a change of 12%. The value then surged significantly to Rs 1,800 per sq.ft in 2007, which is a remarkable increase of 313%. Following this, in 2012, the value rose to Rs 4,000 per sq.ft, reflecting a 122% increase from the previous revision. The latest revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from 2012.

It is important to note that there are no figures available for the revisions in 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by a substantial 1,031%.

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 guideline value is Rs 4,400 per sq.ft, placing Jaganathapuram 6th Cross Street at this median value for 2024.

• Jaganathapuram 5th Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 6th Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 7th Cross Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 4th Main Road: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 7th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jaganathapuram 6th 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 amounts to 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 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jaganathapuram 6th Cross Street?

The Jaganathapuram 6th Cross Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role 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. This value is essential for calculating the applicable stamp duty and registration fees, which are mandatory during property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions, reflecting the property's value as determined by the guideline register.

Frequently asked questions

What is the current guideline value of Jaganathapuram 6th Cross Street?

The current guideline value of Jaganathapuram 6th 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 changed significantly 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 this period.

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 Sub Registrar Office covers this street?

The Velacheri Sub Registrar Office covers Jaganathapuram 6th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

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

Yes, several other streets in Velachery also have a guideline value of Rs 4,400 per sq.ft for 2024, including Jaganathapuram 5th Street, Jaganathapuram 6th Street, Jaganathapuram 5th Cross Street, Jaganathapuram 7th Cross Street, Jaganathapuram 4th Main Road, and Jaganathapuram 7th Street.