Guideline Value for James Cross Street

James Cross Street guideline value

The current guideline value of James Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO and is classified as Residential Class I Type - III.

How the guideline value of James Cross Street has changed

The guideline value for James Cross Street has undergone several revisions since 2017. In the 2017 revision, the value was Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, representing a 49% increase. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with the 2024 guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,750 per sq.ft, which is equal to the current value of James Cross Street.

• James Street: Rs 2,750 per sq.ft (2024)
• Jai Sakthi Nagar: Rs 1,650 per sq.ft (2024)
• Jai Nagar: Rs 1,650 per sq.ft (2024)
• Jaganathan Street: Rs 2,200 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 2,750 per sq.ft (2024)
• Jayalakshmi Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in James Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. It's important 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 detailed calculations.

Which Sub Registrar Office covers James Cross Street?

James Cross Street falls under 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 information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value serves as a benchmark for property transactions in Madipakkam-1. It is used to calculate the stamp duty and registration fees when a property is bought or sold, ensuring that the government receives the appropriate revenue from property transactions.

When registering a property, the guideline value is essential as it determines the minimum value on which the stamp duty is calculated. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of James Cross Street?

The current guideline value of James Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,750 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the stamp duty and registration fees for a property in James Cross Street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers the registration for James Cross Street?

The Velacheri Sub Registrar Office covers James Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for James Cross Street?

James Cross Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.