Guideline Value for Janani Avenue

Janani Avenue guideline value

The current guideline value of Janani Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village under the Virugambakkam SRO, classified as Residential Class II Type - II.

How the guideline value of Janani Avenue has changed

The guideline value for Janani Avenue has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 87 per sq.ft. This increased to Rs 96 per sq.ft in 2003, marking a 10% rise. The 2007 revision saw a significant jump to Rs 250 per sq.ft, which was an increase of 160%. In 2012, the value was revised to Rs 2,500 per sq.ft, reflecting a decrease of 33% from the previous figure.

In 2017, the guideline value rose to Rs 1,675 per sq.ft, which was a 49% increase from the 2012 revision. The next revision in 2023 set the value at Rs 2,500 per sq.ft. Finally, the current 2024 revision established the guideline value at Rs 2,750 per sq.ft, representing a 10% increase from the previous year. There are no figures for revisions in years not listed above.

Guideline values in Nesapakkam

Nesapakkam has a range of guideline values, with 148 streets under the Virugambakkam SRO carrying a 2024 figure between Rs 2,200 and Rs 7,150 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, and Janani Avenue's 2024 figure is below this median.

• Jayalalitha Nagar: Rs 2,200 per sq.ft (2024)
• Jayalalitha Nagar - Ganesan Street: Rs 2,200 per sq.ft (2024)
• Jayalalitha Nagar - Govindan Street: Rs 2,200 per sq.ft (2024)
• Jayalalitha Nagar - Krishna Moorthy Street: Rs 2,200 per sq.ft (2024)
• Jayalalitha Nagar - Zeenath Sharbudeen Street: Rs 2,200 per sq.ft (2024)
• Jaibalaji Nagar Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Janani Avenue

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Janani Avenue?

The Sub Registrar Office that covers Janani Avenue 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 Nesapakkam

The guideline value is a crucial factor during the registration of property transactions in Nesapakkam. It serves as a benchmark for determining the minimum price at which properties can be sold or purchased, ensuring transparency in the real estate market.

When you buy or sell property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Janani Avenue?

The current guideline value of Janani Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 87 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 3061% over the years.

What is the land classification of Janani Avenue?

Janani Avenue is classified as Residential Class II Type - II, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in Janani Avenue?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 2,47,500.

Where is the Sub Registrar Office for Janani Avenue located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.