Guideline Value for Jegannatha Nagar 15th Street

Jegannatha Nagar 15th Street guideline value

The current guideline value of Jegannatha Nagar 15th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Jegannatha Nagar 15th Street has changed

The guideline value for Jegannatha Nagar 15th Street has seen several revisions over the years. In 2007, the value was Rs 1,300 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 208%. However, in 2017, the value dropped to Rs 2,680 per sq.ft, which was a decrease of 33%. From 2017 to 2023, the value increased to Rs 4,000 per sq.ft, reflecting a notable rise of 49%. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 238%.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is the same as the current value for Jegannatha Nagar 15th Street.

• Jegannatha Nagar 14th Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 16th Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 13th Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 17th Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 12th Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 18th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jegannatha Nagar 15th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jegannatha Nagar 15th Street?

The Sub Registrar Office that covers Jegannatha Nagar 15th Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor when buying or selling property in Koyakbedu. It serves as a benchmark for determining the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay during the transaction process.

When you register a property, the guideline value ensures that the transaction is transparent and fair. It helps in preventing undervaluation of properties, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jegannatha Nagar 15th Street?

The current guideline value of Jegannatha Nagar 15th Street is Rs 4,400 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 1,300 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024. The value has seen both increases and decreases across various revisions.

What is the land classification for Jegannatha Nagar 15th Street?

The land classification for Jegannatha Nagar 15th Street is Residential Class I Type - II. This classification indicates the type of properties that can be developed in the area.

Where is the AnnaNagar Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. This office handles property registrations for the area.

How is the stamp duty calculated for properties in Jegannatha Nagar 15th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 4,400 per sq.ft has a total guideline value of Rs 44,00,000, leading to a stamp duty of Rs 3,08,000.