Guideline Value for Janaki Ram Nagar

Janaki Ram Nagar guideline value

The current guideline value of Janaki Ram Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Janaki Ram Nagar has changed

The guideline value for Janaki Ram Nagar has undergone several revisions over the years. The oldest available figure is from the 2017 revision, which was Rs 804 per sq.ft. This increased to Rs 1,200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 saw the guideline value increase to Rs 1,300 per sq.ft, representing an 8% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 62%.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that the 2024 figure for Janaki Ram Nagar is below this median.

• Jangiri Shop Road ( Ward No.12 ): Rs 1,300 per sq.ft (2024)
• Jampuli Street: Rs 1,600 per sq.ft (2024)
• Jaya Garden: Rs 1,600 per sq.ft (2024)
• Jayalakshmi Complex / Garden: Rs 2,200 per sq.ft (2024)
• Jayalakshmi Garden 1st Cross St (Ward-03): Rs 2,200 per sq.ft (2024)
• Jayalakshmi Garden 1st st ( Ward No.3 ): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Janaki Ram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Janaki Ram Nagar?

Janaki Ram Nagar falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more details, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Madhavaram. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the official value of the property for registration purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Janaki Ram Nagar?

The current guideline value of Janaki Ram Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

What is the land classification of Janaki Ram Nagar?

Janaki Ram Nagar is classified as Residential Class III Type - I. This classification impacts the guideline value and the types of properties that can be developed in the area.

What are the stamp duty and registration fees in Janaki Ram Nagar?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 13,00,000, the total fees would amount to Rs 1,17,000.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in Janaki Ram Nagar.