Guideline Value for Janaki Nagar extension 5th Cross Street

Janaki Nagar extension 5th Cross Street guideline value

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

The guideline value for Janaki Nagar extension 5th Cross Street has undergone several revisions over the years. The earliest available figure is from the 2012 revision, which set the value at Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in the 2017 revision. However, the most recent 2024 revision has significantly increased the value to Rs 4,400 per sq.ft, marking a 64% rise from the 2017 figure.

Between the 2012 and 2017 revisions, the guideline value decreased by 33%. Overall, from 2012 to 2024, there has been a modest increase of 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 a total of 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Janaki Nagar extension 5th Cross Street's 2024 figure above that median.

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

Stamp duty and registration fee for property in Janaki Nagar extension 5th 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 amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total fees together to 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.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Janaki Nagar extension 5th Cross Street?

The Sub Registrar Office that covers Janaki Nagar extension 5th 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 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. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is officially recorded.

Frequently asked questions

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

The current guideline value of Janaki Nagar extension 5th 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 it increased to Rs 4,400 per sq.ft in 2024.

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 is Rs 3,08,000, and the registration fee is Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office is responsible for Janaki Nagar extension 5th Cross Street?

The Virugambakkam Sub Registrar Office is responsible for Janaki Nagar extension 5th Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Janaki Nagar extension 5th Cross Street?

Janaki Nagar extension 5th Cross Street falls under the Residential Class I Type - II land classification.