Guideline Value for Jaganathapuram 8th Cross Street

Jaganathapuram 8th Cross Street guideline value

The current guideline value of Jaganathapuram 8th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Jaganathapuram 8th Cross Street has changed

Over the years, the guideline value for Jaganathapuram 8th Cross Street has seen significant changes. The register shows that in 2002, the guideline value was Rs 389 per sq.ft, which increased to Rs 436 per sq.ft in 2003. Following this, there was a substantial rise to Rs 1,800 per sq.ft in 2007, marking an increase of 313%. The value then rose to Rs 4,000 per sq.ft in 2012, reflecting a 122% increase from the previous revision. However, it dropped to Rs 2,680 per sq.ft in 2017, representing a decrease of 33%. The value increased again to Rs 4,000 per sq.ft in 2023, and most recently, it has risen to Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,031%. There are no figures available for other revisions 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 guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the guideline value of Jaganathapuram 8th Cross Street.

• Jaganathapuram 7th Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 8th Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 7th Cross Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 9th Cross Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 6th Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 9th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jaganathapuram 8th 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 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. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Jaganathapuram 8th Cross Street?

The Jaganathapuram 8th 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 in Velachery. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that all transactions are recorded accurately and fairly.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Jaganathapuram 8th Cross Street?

The current guideline value of Jaganathapuram 8th 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, reflecting an overall increase of 1,031% over this period.

What is the stamp duty for properties in Jaganathapuram 8th Cross Street?

The stamp duty for properties in Jaganathapuram 8th Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for Jaganathapuram 8th Cross Street?

The Velacheri Sub Registrar Office handles registrations for Jaganathapuram 8th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Jaganathapuram 8th Cross Street?

Jaganathapuram 8th Cross Street is classified as Residential Class II Type - II.