Guideline Value for Janaki Nagar 1st Cross Street

Janaki Nagar 1st Cross Street guideline value

The current guideline value of Janaki Nagar 1st Cross 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 it falls under the Residential Class V Type - I land classification.

How the guideline value of Janaki Nagar 1st Cross Street has changed

The guideline value for Janaki Nagar 1st Cross Street 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. Following this, the value saw a significant rise to Rs 300 per sq.ft in 2007. In 2012, the value was recorded at Rs 2,000 per sq.ft, but it dropped to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, culminating in the current value of Rs 2,200 per sq.ft in 2024.

Between the revisions, there have been notable changes. From 2023 to 2024, the value increased by 10%. The period from 2017 to 2023 saw a substantial rise of 49%. However, from 2012 to 2017, there was a decrease of 33%. The jump from 2007 to 2012 was significant at 567%, while the increase from 2003 to 2007 was 59%. Lastly, the value rose by 10% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1,179%.

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 1st Cross Street is below this median.

• 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)
• Janagiram Nagar: 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 Janaki Nagar 1st Cross 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, while the registration fee at 2% would be Rs 44,000. Together, the total fees would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Janaki Nagar 1st Cross Street?

The Sub Registrar Office that covers Janaki Nagar 1st Cross 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

When buying or selling property in Maduravoyal, the guideline value is a crucial element used during the registration process. It serves as a base for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

Buyers and sellers must be aware that the guideline value may differ from the actual sale price. The stamp duty is charged on the higher of the guideline value and the sale price, which can impact the total cost involved in the transaction.

Frequently asked questions

What is the current guideline value of Janaki Nagar 1st Cross Street?

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

What is the median guideline value in Maduravoyal?

The median guideline value in Maduravoyal is Rs 3,050 per sq.ft, with Janaki Nagar 1st Cross Street's current value being below this median.

What are the stamp duty and registration fees for properties in Janaki Nagar 1st Cross 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 for Janaki Nagar 1st Cross Street?

The Virugambakkam Sub Registrar Office handles property registrations for Janaki Nagar 1st Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.