Guideline Value for Janakiram Reddy Colony & Street

Janakiram Reddy Colony & Street guideline value

The current guideline value for Janakiram Reddy Colony & Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Konnur village under the Konnur SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Janakiram Reddy Colony & Street has changed

The guideline value for Janakiram Reddy Colony & Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,500 per sq.ft, and the latest 2024 revision has raised it to Rs 3,800 per sq.ft. The register has no figure for this street in 2002, 2003, and 2007.

Between the revisions, the guideline value saw a significant increase of 49% from 2017 to 2023, followed by a 9% increase from 2023 to 2024. Notably, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value among these streets is Rs 3,800 per sq.ft, which is equal to the guideline value for Janakiram Reddy Colony & Street.

• Indira Nagar / Street: Rs 5,500 per sq.ft (2024)
• Indira Nagar: Rs 5,500 per sq.ft (2024)
• Kamaraj Nagar: Rs 3,800 per sq.ft (2024)
• Kamaraj Nagar and Ist Street and 2nd Street: Rs 3,800 per sq.ft (2024)
• G.K.M. Colony 44th Street: Rs 5,500 per sq.ft (2024)
• G.K.M.Colony 43th Street Thillaiyadi Valliammai Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Janakiram Reddy Colony & Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 38,00,000. The stamp duty is charged at 7%, totaling Rs 2,66,000, and the registration fee is 2%, amounting to Rs 76,000. Together, the total cost for these fees is Rs 3,42,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Janakiram Reddy Colony & Street?

The Sub Registrar Office that covers Janakiram Reddy Colony & Street is the Konnur Sub Registrar Office. The address is: Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process for property transactions in Konnur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both parties. It is crucial to be aware of the current guideline value to ensure compliance with legal requirements and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Janakiram Reddy Colony & Street?

The current guideline value of Janakiram Reddy Colony & Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,800 per sq.ft in 2024, marking a 9% increase. It was Rs 2,345 per sq.ft in 2017, which means there was a 49% increase from 2017 to 2023.

What are the other streets with their guideline values in Konnur?

Other streets in Konnur include Indira Nagar / Street and Indira Nagar at Rs 5,500 per sq.ft, Kamaraj Nagar and Kamaraj Nagar and Ist Street and 2nd Street at Rs 3,800 per sq.ft, and G.K.M. Colony 44th Street at Rs 5,500 per sq.ft.

What are the stamp duty and registration fees for property in Janakiram Reddy Colony & Street?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 3,42,000.

Which office handles registrations for Janakiram Reddy Colony & Street?

The Konnur Sub Registrar Office handles registrations for Janakiram Reddy Colony & Street, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.