Guideline Value for Jagannathan 6th Cross Street

Jagannathan 6th Cross Street guideline value

The current guideline value of Jagannathan 6th 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 6th Cross Street has changed

The guideline value for Jagannathan 6th Cross Street has seen 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, this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023 before reaching the current rate of Rs 2,700 per sq.ft in 2024. The changes between revisions include a +257% increase from 2007 to 2012, a -33% decrease from 2012 to 2017, a +49% increase from 2017 to 2023, and an +8% increase from 2023 to 2024.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by +286%.

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 of Jagannathan 6th Cross Street is below this median.

• Jagannathan 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 7th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 8th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 9th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Jagannathan 6th 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, bringing the total fees together to Rs 2,43,000. It is essential 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 accurate calculations.

Which Sub Registrar Office covers Jagannathan 6th Cross Street?

The Sub Registrar Office that covers Jagannathan 6th 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 when buying or selling property in Kolathur. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must refer to the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value serves as a benchmark for assessing the transaction value, ensuring that the sale price is in line with the established rates. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Jagannathan 6th Cross Street?

The current guideline value of Jagannathan 6th 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 significantly from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing an overall increase of +286% over this period.

What are the stamp duty and registration fees for properties here?

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 registrations for this street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Jagannathan 6th Cross Street.

How does the guideline value affect property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It ensures that the sale price aligns with established rates, promoting transparency in the buying and selling process.