Guideline Value for Jaganathapuram 9th Cross Street

Jaganathapuram 9th Cross Street guideline value

The current guideline value of Jaganathapuram 9th 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 9th Cross Street has changed

The guideline value for Jaganathapuram 9th Cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 389 per sq.ft, which increased to Rs 436 per sq.ft in 2003. The value continued to rise, reaching Rs 1,800 per sq.ft in 2007, and then further increasing to Rs 4,000 per sq.ft in 2012. However, it saw a decrease to Rs 2,680 per sq.ft in 2017. The value then rose again to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024.

The changes between these revisions are notable. From 2002 to 2003, the increase was +12%. The rise from 2003 to 2007 was +313%. The value then decreased by -33% from 2012 to 2017. After that, there was a significant increase of +49% from 2017 to 2023. Finally, the guideline value increased by +10% from 2023 to 2024, leading to an overall increase of +1031% from 2002 to 2024.

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, which is equal to the current figure for Jaganathapuram 9th Cross Street.

• Jaganathapuram 8th Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 9th Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 8th Cross Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 7th 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 9th 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, resulting in a total of 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 the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jaganathapuram 9th Cross Street?

The Jaganathapuram 9th Cross Street falls under 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 plays a crucial role during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jaganathapuram 9th Cross Street?

The current guideline value of Jaganathapuram 9th 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, starting from Rs 389 per sq.ft in 2002 to the current value of Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +1031% over this period.

What is the land classification of Jaganathapuram 9th Cross Street?

Jaganathapuram 9th Cross Street is classified as Residential Class II Type - II.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Jaganathapuram 9th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 3,96,000 in fees.