Guideline Value for Janaki Nagar 3rd Street

Janaki Nagar 3rd Street guideline value

The current guideline value of Janaki Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Janaki Nagar 3rd Street has changed

The guideline value for Janaki Nagar 3rd Street has undergone several revisions over the years. In 2002, the value was Rs 172 per sq.ft, which increased to Rs 189 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 300 per sq.ft in 2007, reflecting a 59% increase. Following this, the value surged to Rs 2,000 per sq.ft in 2012, resulting in a remarkable 567% increase. However, the value then decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33%. The most recent revisions include Rs 2,000 per sq.ft in 2023 and the current value of Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1179%. There are no figures available for other years in the register for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, placing Janaki Nagar 3rd Street's 2024 value below this median.

• Janaki Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Janaki Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Janaki Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Janaki Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Janaki Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Janaki Nagar 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Janaki Nagar 3rd Street

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, bringing the total to Rs 1,98,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Janaki Nagar 3rd Street?

The Sub Registrar Office that covers Janaki Nagar 3rd Street 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 critical factor when registering property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair value.

When you buy or sell property, the guideline value is used to calculate stamp duty and registration fees, which are mandatory for legal documentation. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Janaki Nagar 3rd Street?

The current guideline value of Janaki Nagar 3rd Street 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 significantly from Rs 172 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1179% over the years.

What are the other streets in Maduravoyal with the same guideline value?

Other streets in Maduravoyal with the same guideline value of Rs 2,200 per sq.ft for 2024 include Janaki Nagar 3rd Cross Street, Janaki Nagar 2nd Street, Janaki Nagar 4th Cross Street, Janaki Nagar 4th Street, Janaki Nagar 2nd Cross Street, and Janaki Nagar 5th Street.

How is the stamp duty calculated for property in Janaki Nagar 3rd Street?

Stamp duty for property in Janaki Nagar 3rd Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. This office handles the registration of properties in the area.