Guideline Value for Janaki Raman Nagar

Janaki Raman Nagar guideline value

The current guideline value of Janaki Raman Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024. This locality is situated in Baraniputjur village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Janaki Raman Nagar has changed

The guideline value for Janaki Raman Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 250 per sq.ft, which increased significantly to Rs 1,100 per sq.ft in 2012. However, it dropped to Rs 737 per sq.ft in 2017 before climbing to Rs 1,100 per sq.ft again in 2023. The most recent revision in 2024 raised the value to Rs 1,210 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the most notable changes occurred from 2007 to 2012, where the value surged by 340%. From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 384%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Baraniputjur

In Baraniputjur, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 2,500 per sq.ft. The median value is Rs 1,210 per sq.ft, which is equal to the current guideline value of Janaki Raman Nagar.

• Iyyappanthangal Main Road: Rs 1,450 per sq.ft (2024)
• Jothi Nagar: Rs 1,210 per sq.ft (2024)
• Ilayaraja Nagar: Rs 1,210 per sq.ft (2024)
• Karthik Avenue: Rs 1,450 per sq.ft (2024)
• Karuna Nidhi Street: Rs 1,210 per sq.ft (2024)
• Ellaiyamman koil Street: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Janaki Raman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, totaling Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Janaki Raman Nagar?

The Sub Registrar Office that covers Janaki Raman Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Baraniputjur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair and transparent price.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Janaki Raman Nagar?

The current guideline value of Janaki Raman Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, showing an overall increase of 384% over the years.

What are the stamp duty and registration fees for properties in Janaki Raman Nagar?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 1,08,900.

Which office handles property registrations for Janaki Raman Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Janaki Raman Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Janaki Raman Nagar?

Janaki Raman Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.