Guideline Value for Jagannathapuram

Jagannathapuram guideline value

The current guideline value for Jagannathapuram, located in Madavilagam village under the Poonamallee SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Jagannathapuram has changed

Over the years, the guideline value for Jagannathapuram has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 150 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 402 per sq.ft in 2017, which is a drop of 33%. The value rose again to Rs 600 per sq.ft in 2023, and further increased to the current Rs 660 per sq.ft in 2024, reflecting a 10% increase from the previous year. Notably, the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a substantial increase of 49%, bringing the value to Rs 600 per sq.ft. The overall change from the 2007 figure to the current 2024 value shows an increase of 340%, highlighting the significant fluctuations in the guideline value over the years.

Guideline values in Madavilagam

In Madavilagam, there are 37 streets under the Poonamallee SRO that have a guideline value for 2024, ranging from Rs 660 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing the guideline value of Jagannathapuram below this median.

• Industrial Estate 121: Rs 2,200 per sq.ft (2024)
• Industrial Estate 120: Rs 2,200 per sq.ft (2024)
• Industrial Estate 119: Rs 2,200 per sq.ft (2024)
• Industrial Estate 118: Rs 2,200 per sq.ft (2024)
• Industrial Estate 117: Rs 2,200 per sq.ft (2024)
• Industrial Estate 116: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Jagannathapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jagannathapuram?

The Sub Registrar Office that covers Jagannathapuram is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madavilagam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations associated with property transactions. Ensuring that the sale price meets or exceeds the guideline value is necessary to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Jagannathapuram?

The current guideline value of Jagannathapuram is Rs 660 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 150 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What is the stamp duty rate for properties in Jagannathapuram?

The stamp duty rate for properties in Jagannathapuram is 7% of the guideline value or the sale price, whichever is higher.

Where is the Poonamallee Sub Registrar Office located?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the median guideline value in Madavilagam?

The median guideline value in Madavilagam is Rs 1,100 per sq.ft, with Jagannathapuram's guideline value being below this median.