Guideline Value for Jaganathapuram 8th Street

Jaganathapuram 8th Street guideline value

The current guideline value of Jaganathapuram 8th 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 Street has changed

The guideline value for Jaganathapuram 8th Street has undergone several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a significant rise of 122%. However, it decreased to Rs 2,680 per sq.ft in 2017, reflecting a drop of 33%. The value then saw a substantial increase of 49% to reach Rs 4,000 per sq.ft in 2023, and finally, it rose by 10% to the current value of Rs 4,400 per sq.ft in 2024.

It is important to note that the register does not have figures for Jaganathapuram 8th Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 144%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with the 2024 guideline values 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, which matches the current guideline value for Jaganathapuram 8th Street.

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

Stamp duty and registration fee for property in Jaganathapuram 8th 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 cost for these fees to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jaganathapuram 8th Street?

The Sub Registrar Office that covers Jaganathapuram 8th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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 minimum value at which a property can be registered, ensuring that the government receives appropriate revenue in the form of stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions.

Frequently asked questions

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

The current guideline value of Jaganathapuram 8th 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 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 144% over the years.

What are the other streets in Velachery with the same guideline value?

Other streets in Velachery with the same guideline value of Rs 4,400 per sq.ft include Jaganathapuram 8th Cross Street, Jaganathapuram 9th Cross Street, Jaganathapuram 7th Street, Jaganathapuram 9th Street, Jaganathapuram 7th Cross Street, and Jaganathapuram 6th Street.

How is the stamp duty calculated for properties in Jaganathapuram 8th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000.

Where can I find the Sub Registrar Office for Jaganathapuram 8th Street?

The Sub Registrar Office covering Jaganathapuram 8th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.