Guideline Value for Janaki Nagar 2nd Cross Street

Janaki Nagar 2nd Cross Street guideline value

The current guideline value of Janaki Nagar 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Janaki Nagar 2nd Cross Street has changed

The guideline value for Janaki Nagar 2nd Cross Street has seen several revisions over the years. The earliest recorded figure in the register is from 2002, where it was Rs 172 per sq.ft. This increased to Rs 189 per sq.ft in 2003, marking a 10% rise. In 2007, the value surged to Rs 300 per sq.ft, reflecting a significant increase of 59%. The value then rose dramatically to Rs 2,000 per sq.ft in 2012, which was a 567% increase from the previous revision.

Following this, there was a decrease in the guideline value to Rs 1,340 per sq.ft in 2017, representing a 33% drop. The guideline value then increased again to Rs 2,000 per sq.ft in 2023, and most recently to Rs 2,200 per sq.ft in 2024, which is a 10% increase. 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 for Janaki Nagar 2nd Cross Street is below this median.

• Janaki Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Janaki Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Janaki Nagar 1st Cross 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)
• Janaki Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Janaki Nagar 2nd 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, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Janaki Nagar 2nd Cross Street?

The Sub Registrar Office that covers Janaki Nagar 2nd 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

The guideline value is a crucial factor when buying or selling property in Maduravoyal. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with local regulations.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Janaki Nagar 2nd Cross Street?

The current guideline value of Janaki Nagar 2nd 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 from Rs 172 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 1,179% across the revisions.

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 in 2024 include Janaki Nagar 1st Street, Janaki Nagar 2nd Street, Janaki Nagar 1st Cross Street, Janaki Nagar 3rd Cross Street, Janaki Nagar 3rd Street, and Janaki Nagar 4th Cross Street.

What is the stamp duty rate for properties in Janaki Nagar 2nd Cross Street?

The stamp duty rate for properties in Janaki Nagar 2nd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Janaki Nagar 2nd Cross Street located?

The Sub Registrar Office for Janaki Nagar 2nd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.