Guideline Value for Janakiraman Street Block 78

Janakiraman Street Block 78 guideline value

The current guideline value of Janakiraman Street Block 78 is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Janakiraman Street Block 78 has changed

The guideline value for Janakiraman Street Block 78 has seen significant changes over the years. In the 2007 revision, the value was Rs 800 per sq.ft, which increased to Rs 3,750 per sq.ft in 2012, marking a substantial rise of 369%. However, in the 2017 revision, it decreased to Rs 2,512 per sq.ft, a drop of 33%. The value then rose again to Rs 3,750 per sq.ft in 2023, and finally reached Rs 4,100 per sq.ft in the 2024 revision, reflecting an increase of 9% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 413%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, indicating that the 2024 figure for Janakiraman Street Block 78 is below this median.

• Jawahar Nagar (Block 82): Rs 4,100 per sq.ft (2024)
• Jakir Usan Street (S.M.BLOCK): Rs 3,300 per sq.ft (2024)
• Jakir Hussain Street Ch-78: Rs 3,300 per sq.ft (2024)
• Jakir Hussain 2nd Street(S.M.BLOCK): Rs 3,300 per sq.ft (2024)
• Jaishankar Street: Rs 5,500 per sq.ft (2024)
• Jayabalan Street (JPT): Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Janakiraman Street Block 78

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Janakiraman Street Block 78?

The Sub Registrar Office that covers Janakiraman Street Block 78 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Kodambakkam, the guideline value is a critical factor in determining the registration fees and stamp duties. The guideline value serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall costs involved in the transaction. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Janakiraman Street Block 78?

The current guideline value of Janakiraman Street Block 78 is Rs 4,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, which is a total increase of 413% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000 and the registration fee would be Rs 82,000, totaling Rs 3,69,000.

Which Sub Registrar Office is responsible for Janakiraman Street Block 78?

The Ashok Nagar Sub Registrar Office is responsible for Janakiraman Street Block 78, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum registration fees and stamp duties required when buying or selling property. It ensures that the government receives appropriate revenue from these transactions.