Guideline Value for Janaki Raman Street

Janaki Raman Street guideline value

The current guideline value of Janaki Raman Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Janaki Raman Street has changed

The guideline value for Janaki Raman Street has seen significant changes over the years. In 2002, the value was Rs 114 per sq.ft, which increased to Rs 129 per sq.ft in 2003, marking a change of 13%. The value then rose to Rs 260 per sq.ft in 2007, showing an increase of 102%. By 2017, the guideline value reached Rs 1,206 per sq.ft, reflecting a substantial rise of 364%. The 2023 revision set the value at Rs 1,800 per sq.ft, which was a 49% increase from the previous revision. The current guideline value of Rs 1,980 per sq.ft in 2024 represents a 10% increase from 2023.

It is important to note that there is no figure available for Janaki Raman Street in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 1,637%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Janaki Raman Street's 2024 figure below that median.

• Janakiraman Street, Nehru Nagar: Rs 1,980 per sq.ft (2024)
• James Street / Shivashankaran Nagar: Rs 2,475 per sq.ft (2024)
• James Street / Krishna Nagar: Rs 2,530 per sq.ft (2024)
• James Street / Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• Jayamary Street / Nagalkeni: Rs 1,980 per sq.ft (2024)
• Jagajeevanram Street /Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Janaki Raman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty, charged at 7%, would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total fees would be Rs 1,78,200. It is important to note that 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 more details.

Which Sub Registrar Office covers Janaki Raman Street?

The Sub Registrar Office that covers Janaki Raman Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pammal. It is used to determine the stamp duty and registration fees payable at the time of property registration. Buyers should be aware that the guideline value may differ from the actual sale price, and the duty is charged on the higher of the two.

When registering a property, it is essential to reference the current guideline value to ensure compliance with local regulations. This value is periodically revised, reflecting changes in the real estate landscape and helping maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Janaki Raman Street?

The current guideline value of Janaki Raman Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 114 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, representing an overall increase of 1,637%.

What is the land classification for Janaki Raman Street?

Janaki Raman Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for Janaki Raman Street?

The Sub Registrar Office covering Janaki Raman Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How are stamp duty and registration fees calculated for properties in Pammal?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600 and a registration fee of Rs 39,600.