Guideline Value for Jagannathan 13th Cross Street

Jagannathan 13th Cross Street guideline value

The current guideline value of Jagannathan 13th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO and is classified as Residential Class II Type - I.

How the guideline value of Jagannathan 13th Cross Street has changed

The guideline value for Jagannathan 13th Cross Street has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, but then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value rose sharply to Rs 2,500 per sq.ft in 2023 and further increased to the current value of Rs 2,700 per sq.ft in 2024.

In terms of percentage changes, from 2007 to 2012, the value increased by 257%. However, from 2012 to 2017, there was a decrease of 33%. The value then saw a substantial increase of 49% from 2017 to 2023, and a further rise of 8% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 286%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making the 2024 guideline value for Jagannathan 13th Cross Street below that median.

• Jagannathan 12th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 14th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 11th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 10th 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 13th 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 would be Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total charges Rs 2,43,000. 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 details.

Which Sub Registrar Office covers Jagannathan 13th Cross Street?

The Sub Registrar Office that covers Jagannathan 13th Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is important for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Jagannathan 13th Cross Street?

The current guideline value of Jagannathan 13th 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 changed several times, starting from Rs 700 per sq.ft in 2007, rising to Rs 2,500 per sq.ft in 2012, then decreasing to Rs 1,675 per sq.ft in 2017, and finally reaching Rs 2,700 per sq.ft in 2024.

What is the land classification for Jagannathan 13th Cross Street?

Jagannathan 13th Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total charges would be Rs 2,43,000.

Which office handles registrations for Jagannathan 13th Cross Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Jagannathan 13th Cross Street.