Guideline Value for Janaki Nagar extension 6th Cross Street

Janaki Nagar extension 6th Cross Street guideline value

The current guideline value of Janaki Nagar extension 6th 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 6th Cross Street has changed

The guideline value for Janaki Nagar extension 6th Cross Street has seen several revisions over the years. The earliest recorded revision in the register is from 2012, where the guideline value was Rs 4,000 per sq.ft. This figure decreased to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the guideline value increased significantly to Rs 4,400 per sq.ft, representing a rise of 64%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no recorded figures for Janaki Nagar extension 6th Cross Street for the revisions in 2023, 2007, 2003, and 2002. Therefore, the changes reflect only the revisions available in the register.

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. The median value for these streets is Rs 3,850 per sq.ft, placing Janaki Nagar extension 6th Cross Street's 2024 figure above that median.

• Janaki Nagar extension 5th Cross Street: Rs 4,400 per sq.ft (2024)
• JANAKI NAGAR - Janaki Radha Street: Rs 4,400 per sq.ft (2024)
• Janaki Nagar extension 4th Cross Street: Rs 4,400 per sq.ft (2024)
• JANAKI NAGAR - Janaki Street: Rs 4,400 per sq.ft (2024)
• Janaki Nagar extension 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• JANAKI NAGAR - Jeevanandam Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Janaki Nagar extension 6th 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, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Janaki Nagar extension 6th Cross Street?

The Sub Registrar Office that covers Janaki Nagar extension 6th Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit this link.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware that the guideline value is used to calculate these costs, ensuring compliance with local regulations.

When a property is sold, the registration office uses the guideline value to assess the appropriate fees. This means that understanding the current guideline value is essential for both buyers and sellers to accurately estimate their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Janaki Nagar extension 6th Cross Street?

The current guideline value of Janaki Nagar extension 6th 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. This reflects a 64% increase from 2017 to 2024.

What is the land classification for Janaki Nagar extension 6th Cross Street?

Janaki Nagar extension 6th Cross Street is classified as Residential Class I Type - II land.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Janaki Nagar extension 6th Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.