Guideline Value for Janaki Nagar extension 4th Cross Street

Janaki Nagar extension 4th Cross Street guideline value

The current guideline value of Janaki Nagar extension 4th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, and it falls under the Residential Class I Type - II land classification.

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

The guideline value for Janaki Nagar extension 4th Cross Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 4,000 per sq.ft. This figure decreased to Rs 2,680 per sq.ft in the 2017 revision, marking a significant drop of 33%. However, the guideline value rebounded to Rs 4,400 per sq.ft in the 2024 revision, reflecting an increase of 64% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value of Rs 4,400 per sq.ft for Janaki Nagar extension 4th Cross Street is above this median.

• Janaki Nagar extension 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Janaki Nagar extension 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Janaki Nagar extension 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Janaki Nagar extension 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Janaki Nagar extension 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Janaki Nagar extension 6th Cross Street: Rs 4,400 per sq.ft (2024)
• JANAKI NAGAR - Janaki Radha Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Janaki Nagar extension 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, these charges would total Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Janaki Nagar extension 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 details.

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

The guideline value is a crucial factor in property transactions in Valasaravakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration process will require adherence to these guidelines.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential for both parties to be aware of the guideline value to ensure compliance with local regulations during the transaction.

Frequently asked questions

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

The current guideline value of Janaki Nagar extension 4th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, and then increased to Rs 4,400 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These charges are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Janaki Nagar extension 4th Cross Street?

The Virugambakkam Sub Registrar Office covers Janaki Nagar extension 4th Cross Street and is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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

Janaki Nagar extension 4th Cross Street falls under the Residential Class I Type - II land classification, which is important for determining the permissible uses of the property.