Guideline Value for Janakpuri 2nd Street

Janakpuri 2nd Street guideline value

The current guideline value of Janakpuri 2nd Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Commercial Class I Type - I.

How the guideline value of Janakpuri 2nd Street has changed

The guideline value for Janakpuri 2nd Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 515 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in 2007, marking a 250% rise. The next revision in 2012 kept the value at Rs 12,000 per sq.ft, which remained unchanged until the 2023 revision.

In 2023, the guideline value was again Rs 12,000 per sq.ft, but it saw a notable increase of 10% in the 2024 revision, reaching Rs 13,200 per sq.ft. Overall, from 2003 to 2024, the guideline value has increased by 2463%. The register does not have figures for the years 2002 and 2017 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, placing Janakpuri 2nd Street above this median.

• Janakpuri 1st Street: Rs 13,200 per sq.ft (2024)
• Janakpuri: Rs 13,200 per sq.ft (2024)
• Jagannathpuram 4th Street: Rs 4,400 per sq.ft (2024)
• Jagannathpuram 3rd Street: Rs 4,400 per sq.ft (2024)
• Jagannathpuram 2nd Street: Rs 4,400 per sq.ft (2024)
• Jagannathpuram 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Janakpuri 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Janakpuri 2nd Street?

The Sub Registrar Office that covers Janakpuri 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Velachery. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, it is essential to consider the guideline value, as it may influence the final sale price and the associated costs. The guideline value helps maintain transparency in property transactions and provides a standard reference for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Janakpuri 2nd Street?

The current guideline value of Janakpuri 2nd Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 515 per sq.ft to Rs 13,200 per sq.ft in 2024, marking an overall increase of 2463%.

What is the land classification for Janakpuri 2nd Street?

Janakpuri 2nd Street is classified as Commercial Class I Type - I under the Velacheri SRO.

Where can I find the Sub Registrar Office for Janakpuri 2nd Street?

The Sub Registrar Office for Janakpuri 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Janakpuri 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,32,00,000 would incur a stamp duty of Rs 9,24,000 at 7%.