Guideline Value for Janatha Nagar

Janatha Nagar guideline value

The current guideline value of Janatha Nagar is Rs 2,920 per sq.ft, effective from 1 July 2024. This area is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Janatha Nagar has changed

The guideline value for Janatha Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 525 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012. However, it decreased to Rs 1,809 per sq.ft in 2017. The value then rose to Rs 2,700 per sq.ft in 2023, and currently stands at Rs 2,920 per sq.ft from the 2024 revision, marking an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 456%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. The guideline value of Janatha Nagar is below this median.

• Janakiraman Street: Rs 2,970 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 Janatha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,920 per sq.ft, the total guideline value is Rs 29,20,000. The stamp duty at 7% amounts to Rs 2,04,400, and the registration fee at 2% is Rs 58,400, making the total charges Rs 2,62,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Janatha Nagar?

The Sub Registrar Office that covers Janatha Nagar is 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 is a crucial factor when buying or selling property in Hastinapuram. It is used to determine the stamp duty and registration fees that are applicable at the time of registration. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value helps in establishing a baseline for the property's worth. It is essential for both parties to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Janatha Nagar?

The current guideline value of Janatha Nagar is Rs 2,920 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 525 per sq.ft in 2007 to Rs 2,920 per sq.ft in 2024, marking an overall increase of 456% over the years.

What are the stamp duty rates for property in Janatha Nagar?

The stamp duty for property in Janatha Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Pallavaram Sub Registrar Office located?

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

What is the median guideline value in Hastinapuram?

The median guideline value in Hastinapuram is Rs 2,970 per sq.ft, with Janatha Nagar's current value being below this median.