Guideline Value for Janakpurai Nagar

Janakpurai Nagar guideline value

The current guideline value of Janakpurai Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This locality is situated in Varadarajapuram village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Janakpurai Nagar has changed

Over the years, the guideline value of Janakpurai Nagar has seen significant changes. The 2007 revision recorded a value of Rs 150 per sq.ft, which increased dramatically to Rs 900 per sq.ft in 2012, marking a 500% rise. However, by 2017, the value decreased to Rs 603 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 900 per sq.ft in 2023, before reaching the current rate of Rs 990 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, there has been a substantial increase of 560% in the guideline value. The revisions illustrate the fluctuations in property valuation in Janakpurai Nagar over the years.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Janakpurai Nagar is below this median, indicating a relatively lower valuation compared to other streets in the area.

• Jashmine Nagar: Rs 1,100 per sq.ft (2024)
• J A Nagar S.No 249/1a1b, 1b1b2 Part: Rs 1,980 per sq.ft (2024)
• Jagadeeswari Nagar: Rs 1,650 per sq.ft (2024)
• Ishwaryam Garden: Rs 1,320 per sq.ft (2024)
• Joshia Nagar: Rs 1,320 per sq.ft (2024)
• Kabaleeswaran Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Janakpurai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800, making the total cost for stamp duty and registration fees Rs 89,100. 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 details.

Which Sub Registrar Office covers Janakpurai Nagar?

The Sub Registrar Office that covers Janakpurai Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Varadarajapuram. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value according to state regulations.

When buying or selling property, the guideline value serves as a reference point for calculating the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, which can significantly impact the overall expenses involved in the transaction.

Frequently asked questions

What is the current guideline value of Janakpurai Nagar?

The current guideline value of Janakpurai Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the land classification of Janakpurai Nagar?

Janakpurai Nagar is classified as Residential Class III Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Janakpurai Nagar?

The Sub Registrar Office for Janakpurai Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Janakpurai Nagar?

Stamp duty for properties in Janakpurai Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.