Guideline Value for Jagannathan 7th Cross Street

Jagannathan 7th Cross Street guideline value

The current guideline value of Jagannathan 7th 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 7th Cross Street has changed

The guideline value of Jagannathan 7th Cross Street has undergone several revisions over the years. Starting with the 2007 revision, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure dropped to Rs 1,675 per sq.ft in the 2017 revision. The 2023 revision saw a rise to Rs 2,500 per sq.ft, followed by the current value of Rs 2,700 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 for this street.

In terms of percentage changes, the guideline value increased by 257% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects an 8% increase. Overall, the guideline value has increased by 286% from 2007 to 2024.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have 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 7th Cross Street is below this median.

• Jagannathan 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 8th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 9th Cross Street: Rs 2,700 per sq.ft (2024)
• Jagannathan 4th 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 7th 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 to Rs 2,43,000. Please note that the 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 7th Cross Street?

The Sub Registrar Office that covers Jagannathan 7th 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 when buying or selling property in Kolathur, as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the transaction must be registered at the Sembiam SRO, and the buyer is required to pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is documented officially and complies with local regulations.

Frequently asked questions

What is the current guideline value of Jagannathan 7th Cross Street?

The current guideline value of Jagannathan 7th 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 seen several revisions, starting from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 286% from 2007 to 2024.

What is the land classification of Jagannathan 7th Cross Street?

Jagannathan 7th Cross Street is classified as 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 is calculated based on the guideline value or the sale price of the property, whichever is higher. This amount is paid at the time of registration to document the property transaction officially.