Guideline Value for Jagannatha Colony (Foxen St.)

Jagannatha Colony (Foxen St.) guideline value

The current guideline value for Jagannatha Colony (Foxen St.) is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Siruvallur village and falls under the Sembiam SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Jagannatha Colony (Foxen St.) has changed

The guideline value of Jagannatha Colony (Foxen St.) has seen several revisions over the years. The 2012 revision set the value at Rs 2,600 per sq.ft, which was a decrease of 33% from the previous figure of Rs 1,742 per sq.ft in 2017. The 2023 revision then increased the value to Rs 2,600 per sq.ft, which was an increase of 49% from the 2017 figure. As of the 2024 revision, the guideline value has risen to Rs 2,800 per sq.ft, representing an 8% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO that have a 2024 guideline value, ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 1,900 per sq.ft, making Jagannatha Colony (Foxen St.)'s 2024 figure of Rs 2,800 per sq.ft above that median.

• Hot Kins Road: Rs 1,900 per sq.ft (2024)
• Gowtham Chand Lane: Rs 1,900 per sq.ft (2024)
• Govindarajulu Street: Rs 1,900 per sq.ft (2024)
• Govindarajulu Lane: Rs 1,600 per sq.ft (2024)
• Govardhan Doss Street: Rs 1,900 per sq.ft (2024)
• Francis Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Jagannatha Colony (Foxen St.)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Jagannatha Colony (Foxen St.)?

The Sub Registrar Office that covers Jagannatha Colony (Foxen St.) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Siruvallur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the established regulations.

Frequently asked questions

What is the current guideline value for Jagannatha Colony (Foxen St.)?

The current guideline value for Jagannatha Colony (Foxen St.) is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,600 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, an increase of 8%. It was Rs 1,742 per sq.ft in 2017 and Rs 2,600 per sq.ft in 2012, indicating significant changes over the years.

What is the land classification for Jagannatha Colony (Foxen St.)?

The land classification for Jagannatha Colony (Foxen St.) is Residential Class I Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the higher of the guideline value or the sale price, while the registration fee is 2%. For a property valued at Rs 28,00,000, the total fees would be Rs 2,52,000.

Where can I find the Sub Registrar Office for Jagannatha Colony (Foxen St.)?

The Sub Registrar Office for Jagannatha Colony (Foxen St.) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.