Guideline Value for Jagannathpuram 4th Street

Jagannathpuram 4th Street guideline value

The current guideline value of Jagannathpuram 4th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Jagannathpuram 4th Street has changed

The guideline value for Jagannathpuram 4th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2023, and then to Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the 2024 figure for Jagannathpuram 4th Street.

• Jagannathpuram 3rd Street: Rs 4,400 per sq.ft (2024)
• Jagannathpuram 2nd Street: Rs 4,400 per sq.ft (2024)
• Jagannathpuram 1st Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 9th Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 9th Cross Street: Rs 4,400 per sq.ft (2024)
• Jaganathapuram 8th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jagannathpuram 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jagannathpuram 4th Street?

The Sub Registrar Office that covers Jagannathpuram 4th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of properties in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

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

Frequently asked questions

What is the current guideline value of Jagannathpuram 4th Street?

The current guideline value of Jagannathpuram 4th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Jagannathpuram 4th Street?

Jagannathpuram 4th Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for Jagannathpuram 4th Street?

The Sub Registrar Office for Jagannathpuram 4th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Jagannathpuram 4th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,08,000.