Guideline Value for Jegannatha Nagar 18th Street

Jegannatha Nagar 18th Street guideline value

The current guideline value of Jegannatha Nagar 18th 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 18th Street has changed

The guideline value for Jegannatha Nagar 18th Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,300 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, this value decreased to Rs 2,680 per sq.ft in 2017. From 2017 to 2023, the value rose sharply to Rs 4,000 per sq.ft, and the latest revision in 2024 brought it to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the most notable change occurred from 2007 to 2012, with an increase of 208%. The overall change from 2007 to 2024 is a remarkable 238%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koyakbedu

In Koyakbedu, there are 270 streets under the AnnaNagar SRO that carry a 2024 guideline value 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 equal to the current value of Jegannatha Nagar 18th Street.

• Jegannatha Nagar 17th Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 19th Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 16th Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 20th Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 15th Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 21st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jegannatha Nagar 18th Street

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

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jegannatha Nagar 18th Street?

The Sub Registrar Office that covers Jegannatha Nagar 18th Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When a property transaction occurs, 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 the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jegannatha Nagar 18th Street?

The current guideline value of Jegannatha Nagar 18th 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, marking an overall increase of 238% over the years.

What is the land classification for Jegannatha Nagar 18th Street?

Jegannatha Nagar 18th Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for this area located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office).