Guideline Value for Jagannathan 14th Cross Street

Jagannathan 14th Cross Street guideline value

The current guideline value of Jagannathan 14th 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, classified as Residential Class II Type - I.

How the guideline value of Jagannathan 14th Cross Street has changed

The guideline value for Jagannathan 14th Cross Street has undergone several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it then decreased to Rs 1,675 per sq.ft in 2017. The value saw a substantial rise to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 2,700 per sq.ft, reflecting an increase of 8% from the previous year.

From 2017 to 2023, the increase was 49%, while the change from 2012 to 2017 was a decrease of 33%. Notably, the rise from 2007 to 2012 was a remarkable 257%. 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 carry 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 for Jagannathan 14th Cross Street is below this median.

• Jagannathan 13th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 12th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 11th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 3rd Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jagannathan 14th 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 amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, together totaling Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jagannathan 14th Cross Street?

The Sub Registrar Office that covers Jagannathan 14th 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 an essential reference for property transactions in Kolathur. It determines the minimum value at which properties can be registered, ensuring that the state collects appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value to ensure compliance with legal requirements. The registration process will involve calculating fees based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Jagannathan 14th Cross Street?

The current guideline value of Jagannathan 14th 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 from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 286% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations in Kolathur?

The Sembiam Sub Registrar Office handles property registrations for Jagannathan 14th Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Jagannathan 14th Cross Street?

Jagannathan 14th Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential development.