Guideline Value for Jagannathan 2nd Cross Street

Jagannathan 2nd Cross Street guideline value

The current guideline value of Jagannathan 2nd 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 2nd Cross Street has changed

Over the years, the guideline value of Jagannathan 2nd Cross Street has undergone several revisions. The 2007 revision recorded a guideline value of Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in the 2012 revision. However, the value then decreased to Rs 1,675 per sq.ft in the 2017 revision before rising to Rs 2,500 per sq.ft in the 2023 revision. The most recent 2024 revision has set the value at Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

In terms of percentage changes, the guideline value increased by 257% from 2007 to 2012, but saw a decrease of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 286%. It is important to note that 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, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft as of 2024. The median guideline value for the area is Rs 3,300 per sq.ft, indicating that the guideline value of Jagannathan 2nd Cross Street is below this median.

• Jagannathan 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 14th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 13th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 5th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jagannathan 2nd 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 at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total 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 use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Jagannathan 2nd Cross Street?

The Sub Registrar Office that covers Jagannathan 2nd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Jagannathan 2nd Cross Street?

The current guideline value of Jagannathan 2nd 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, showing an overall increase of 286% over the years.

What is the land classification for Jagannathan 2nd Cross Street?

The land classification for Jagannathan 2nd Cross Street is Residential Class II Type - I.

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

The Sub Registrar Office for Jagannathan 2nd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.