Guideline Value for Jagannathan 12th Cross Street

Jagannathan 12th Cross Street guideline value

The current guideline value of Jagannathan 12th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Jagannathan 12th Cross Street has changed

Over the years, the guideline value of Jagannathan 12th Cross Street has seen significant changes. The earliest revision available is from 2007, where the guideline value was Rs 700 per sq.ft. This figure increased to Rs 2,500 per sq.ft in 2012, showing a remarkable growth of 257%. The value remained unchanged at Rs 2,500 per sq.ft until the 2023 revision, which set it at Rs 2,500 per sq.ft again. The most recent revision in 2024 raised the guideline value to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

In summary, the guideline value has increased from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, representing an overall increase of 286%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 for this street.

Guideline values in Kolathur

In Kolathur village, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Jagannathan 12th Cross Street is below this median.

• Jagannathan 11th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 13th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 10th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 14th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 2nd Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jagannathan 12th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. 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 information.

Which Sub Registrar Office covers Jagannathan 12th Cross Street?

The Sub Registrar Office that covers Jagannathan 12th Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of purchasing a property. Understanding how the guideline value is set and revised can also provide insights into the local real estate market.

Frequently asked questions

What is the current guideline value of Jagannathan 12th Cross Street?

The current guideline value of Jagannathan 12th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, with significant changes noted particularly between 2007 and 2012, and from 2023 to 2024.

What is the land classification for Jagannathan 12th Cross Street?

Jagannathan 12th Cross Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Jagannathan 12th Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value, the stamp duty would be 7% of the total guideline value.