Guideline Value for Janaki Nagar 4th Cross Street

Janaki Nagar 4th Cross Street guideline value

The current guideline value of Janaki Nagar 4th 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, classified as Residential Class V Type - I.

How the guideline value of Janaki Nagar 4th Cross Street has changed

The guideline value for Janaki Nagar 4th Cross Street has seen several revisions over the years. The earliest recorded value was Rs 172 per sq.ft in 2002, which increased to Rs 189 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 300 per sq.ft, reflecting a significant increase of 59%. The value then experienced a substantial jump to Rs 2,000 per sq.ft in 2012, which was a remarkable 567% increase. However, it decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33% before rising again to Rs 2,000 per sq.ft in 2023, a 49% increase. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the years not mentioned in the revisions for this street. The overall change from 2002 to 2024 represents an 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. Janaki Nagar 4th Cross Street's 2024 figure is below this median.

• Janaki Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Janaki Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Janaki Nagar 5th 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 4th 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 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. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Janaki Nagar 4th Cross Street?

The Sub Registrar Office that covers Janaki Nagar 4th 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 during the registration of 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, it is essential to consider the guideline value, as it can impact the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Janaki Nagar 4th Cross Street?

The current guideline value of Janaki Nagar 4th 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 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 this period.

What is the land classification for Janaki Nagar 4th Cross Street?

Janaki Nagar 4th Cross Street is classified as Residential Class V Type - I, which indicates its designation for residential use.

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.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 22,00,000, leading to specific fees based on this amount.