Guideline Value for Janagiram Nagar

Janagiram Nagar guideline value

The current guideline value of Janagiram Nagar, located in Maduravoyal village under the Virugambakkam SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class V Type - I.

How the guideline value of Janagiram Nagar has changed

The guideline value for Janagiram Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 172 per sq.ft, which increased to Rs 189 per sq.ft in 2003. The value saw a significant rise to Rs 300 per sq.ft in 2007, followed by a substantial increase to Rs 2,000 per sq.ft in 2012. However, it dropped to Rs 1,340 per sq.ft in 2017. The value then rose to Rs 2,000 per sq.ft in 2023 and is currently set at Rs 2,200 per sq.ft as of the 2024 revision.

Between the revisions, there have been notable changes. From 2002 to 2003, the increase was +10%. The jump from 2003 to 2007 was +59%, followed by a remarkable +567% from 2007 to 2012. The value decreased by -33% from 2012 to 2017. The increase from 2017 to 2023 was +49%, and the most recent change from 2023 to 2024 is +10%. Overall, from 2002 to 2024, the guideline value has increased by +1179%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value of Janagiram Nagar is below this median.

• Janaki Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Janaki Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Janaki Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Janaki Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Janaki Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Janaki Nagar 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Janagiram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Janagiram Nagar?

The Sub Registrar Office that covers Janagiram Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Janagiram Nagar?

The current guideline value of Janagiram Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 172 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, with various increases and decreases in between, including a notable drop from 2012 to 2017.

What is the classification of land in Janagiram Nagar?

Janagiram Nagar is classified as Residential Class V Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Janagiram Nagar?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000, and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Janagiram Nagar?

The Virugambakkam Sub Registrar Office handles registrations for Janagiram Nagar, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.