Guideline Value for Janakiraman Street

Janakiraman Street guideline value

The current guideline value of Janakiraman Street in Saligramam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Virugambakkam SRO and is classified as Residential Class III Type - I.

How the guideline value of Janakiraman Street has changed

The guideline value for Janakiraman Street has seen several revisions over the years. The 2007 revision set the value at Rs 550 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 445%. However, the value decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the most recent 2024 revision has established the current guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for Janakiraman Street in the revisions of 2002 and 2003. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 500%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft as of 2024. The median guideline value in this area is Rs 4,400 per sq.ft, which means that Janakiraman Street's current value is below this median.

• Jayaprakashnarayanan Street: Rs 3,300 per sq.ft (2024)
• Indira Gandhi Street: Rs 3,300 per sq.ft (2024)
• Indira Gandhi Road: Rs 3,300 per sq.ft (2024)
• Harikrishna Street: Rs 3,300 per sq.ft (2024)
• Govindasamy Street: Rs 3,300 per sq.ft (2024)
• Kamaraj Nagar 1st Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Janakiraman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Janakiraman Street?

The Sub Registrar Office that covers Janakiraman Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Janakiraman Street?

The current guideline value of Janakiraman Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 500% over the years.

What is the land classification for Janakiraman Street?

Janakiraman Street is classified as Residential Class III Type - I.

Where can I find the registration office for Janakiraman Street?

The registration office for Janakiraman Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties on Janakiraman Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.