Guideline Value for Jagannathan 5th Cross Street

Jagannathan 5th Cross Street guideline value

The current guideline value of Jagannathan 5th 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 5th Cross Street has changed

The guideline value for Jagannathan 5th Cross Street has seen several revisions over the years. The 2007 revision recorded a value of Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 1,675 per sq.ft. The value then rose to Rs 2,500 per sq.ft in the 2023 revision, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision. The changes between these revisions include an increase of 257% from 2007 to 2012, a decrease of 33% from 2012 to 2017, an increase of 49% from 2017 to 2023, and an increase of 8% from 2023 to 2024.

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 that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which means that the 2024 figure for Jagannathan 5th Cross Street is below that median.

• Jagannathan 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 7th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 8th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jagannathan 5th 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, the total cost for stamp duty and registration fee would be Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jagannathan 5th Cross Street?

The Sub Registrar Office that covers Jagannathan 5th 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 factor in the registration process of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the sale price, which may affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Jagannathan 5th Cross Street?

The current guideline value of Jagannathan 5th 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 this period.

What is the land classification for Jagannathan 5th Cross Street?

The land classification for Jagannathan 5th Cross Street is Residential Class II Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Kolathur?

Stamp duty for properties in Kolathur is calculated based on the higher of the guideline value or the sale price. The current rate for stamp duty is 7%, and the registration fee is 2% of the guideline value or sale price.