Guideline Value for Janaki Nagar 5th Street

Janaki Nagar 5th Street guideline value

The current guideline value of Janaki Nagar 5th 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 5th Street has changed

The guideline value for Janaki Nagar 5th Street has seen 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. Following this, the value rose significantly to Rs 300 per sq.ft in 2007, and then to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017, before rising again to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The largest increase occurred between 2007 and 2012, where the value surged by 567%. The overall change from 2002 to 2024 reflects a substantial increase of 1,179% in the guideline value.

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 Janaki Nagar 5th Street is below this median.

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

Stamp duty and registration fee for property in Janaki Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Janaki Nagar 5th Street?

The Sub Registrar Office that covers Janaki Nagar 5th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO online for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Janaki Nagar 5th Street?

The current guideline value of Janaki Nagar 5th 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 from Rs 172 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1,179% over the years.

What are the stamp duty and registration fees for property in Janaki Nagar 5th Street?

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

Which office handles property registrations in Janaki Nagar 5th Street?

The Virugambakkam Sub Registrar Office handles property registrations for Janaki Nagar 5th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Janaki Nagar 5th Street?

Janaki Nagar 5th Street is classified as Residential Class V Type - I, indicating its designation for residential use.