Guideline Value for Janakiram Nagar 2nd Main Road

Janakiram Nagar 2nd Main Road guideline value

The current guideline value of Janakiram Nagar 2nd Main Road is Rs 3,500 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Janakiram Nagar 2nd Main Road has changed

The guideline value for Janakiram Nagar 2nd Main Road has seen several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 3,200 per sq.ft in 2012. However, it then decreased to Rs 2,144 per sq.ft in 2017 before rising again to Rs 3,200 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,500 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 400%. The revisions for 2002 and 2003 do not have any figures listed for this street.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, placing Janakiram Nagar 2nd Main Road's 2024 figure above this median.

• Janakiram Nagar 2nd Cross Street: Rs 3,500 per sq.ft (2024)
• Janakiram Nagar 3rd Cross Street: Rs 3,500 per sq.ft (2024)
• Janakiram Nagar 1st Main Road: Rs 3,500 per sq.ft (2024)
• Janakiram Nagar 3rd Main Road: Rs 3,500 per sq.ft (2024)
• Janakiram Nagar 1st Cross Street: Rs 3,500 per sq.ft (2024)
• Janakiram Nagar 4th Cross Street: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Janakiram Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value would be Rs 35,00,000. The stamp duty at 7% would amount to Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, making the total cost Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Janakiram Nagar 2nd Main Road?

The Sub Registrar Office covering Janakiram Nagar 2nd Main Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Sembiam. It serves as a reference point for determining the stamp duty and registration fees that must be paid during the transaction process.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial implications of the sale. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Janakiram Nagar 2nd Main Road?

The current guideline value of Janakiram Nagar 2nd Main Road is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 700 per sq.ft in 2007 to Rs 3,500 per sq.ft in 2024, marking an overall increase of 400% over the years.

What is the median guideline value in Sembiam?

The median guideline value in Sembiam is Rs 2,700 per sq.ft, with Janakiram Nagar 2nd Main Road's 2024 figure being above this median.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value or sale price.

Where is the Sub Registrar Office for Janakiram Nagar 2nd Main Road located?

The Sub Registrar Office for Janakiram Nagar 2nd Main Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.