Guideline Value for Janakiraman Street

Janakiraman Street guideline value

The current guideline value of Janakiraman Street in Hastinapuram village is Rs 2,970 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Janakiraman Street has changed

Over the years, the guideline value of Janakiraman Street has seen several revisions. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a 286% rise. However, this value decreased by 33% to Rs 1,809 per sq.ft in the 2017 revision. Following this, the guideline value surged to Rs 2,700 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 brought the value to Rs 2,970 per sq.ft, representing a 10% increase from the previous year.

It is important to note that the register does not provide figures for Janakiraman Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 324%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, which is equal to the 2024 figure for Janakiraman Street.

• Janatha Nagar: Rs 2,920 per sq.ft (2024)
• Jain Nagar Extension: Rs 2,970 per sq.ft (2024)
• Jain Nagar 3rd Main Road: Rs 2,970 per sq.ft (2024)
• Jain Nagar 2nd Main Road: Rs 2,970 per sq.ft (2024)
• Jain Nagar 1st Main Road: Rs 2,970 per sq.ft (2024)
• Jain Nagar: Rs 2,970 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 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, while the registration fee at 2% would be Rs 59,400, bringing the total cost for these fees to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Janakiraman Street?

The Janakiraman Street falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and fairly.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the revenue collected by the government reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Janakiraman Street?

The current guideline value of Janakiraman Street is Rs 2,970 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 700 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting a total increase of 324% over the years.

What are the other streets with similar guideline values in Hastinapuram?

Other streets in Hastinapuram with similar guideline values include Jain Nagar Extension, Jain Nagar 3rd Main Road, Jain Nagar 2nd Main Road, Jain Nagar 1st Main Road, and Jain Nagar, all valued at Rs 2,970 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Janakiraman Street?

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900, and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Where can I find the Sub Registrar Office for Janakiraman Street?

The Sub Registrar Office covering Janakiraman Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.