Guideline Value for Janakpuri

Janakpuri guideline value

The current guideline value of Janakpuri, located in Velachery village under the Velacheri SRO, is Rs 13,200 per sq.ft, effective from 1 July 2024. This area falls under the Commercial Class I Type - I land classification.

How the guideline value of Janakpuri has changed

The guideline value for Janakpuri has seen significant changes over the years. Starting from Rs 459 per sq.ft in 2002, it rose to Rs 515 per sq.ft in 2003, marking an increase of 12%. The value then surged to Rs 1,800 per sq.ft in 2007, reflecting a substantial increase of 250%. By 2012, the guideline value remained at Rs 12,000 per sq.ft, which was the same in 2023. The most recent revision in 2024 set the value at Rs 13,200 per sq.ft, showing a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by a remarkable 2776%.

Guideline values in Velachery

In Velachery, there are 2691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Janakpuri's current value is significantly above this median.

• Janakpuri 1st Street: Rs 13,200 per sq.ft (2024)
• Janakpuri 2nd Street: 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

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, bringing the total cost for these fees to Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Janakpuri?

The Sub Registrar Office that covers Janakpuri 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 details.

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

The guideline value is a crucial factor in the registration of properties in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. It is essential for both buyers and sellers to be aware of the guideline value to understand the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Janakpuri?

The current guideline value of Janakpuri is Rs 13,200 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 459 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, marking an overall increase of 2776%.

What are the stamp duty and registration fees in Janakpuri?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 11,88,000.

Which office handles registrations in Janakpuri?

The Velacheri Sub Registrar Office handles registrations for Janakpuri, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

Are there other streets with guideline values in Velachery?

Yes, there are other streets in Velachery with guideline values. For instance, Janakpuri 1st Street and Janakpuri 2nd Street both have a guideline value of Rs 13,200 per sq.ft in 2024.