Guideline Value for Jegannatha Nagar 22nd Street

Jegannatha Nagar 22nd Street guideline value

The current guideline value of Jegannatha Nagar 22nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village under the AnnaNagar SRO, classified as Residential Class I Type - II.

How the guideline value of Jegannatha Nagar 22nd Street has changed

The guideline value for Jegannatha Nagar 22nd Street has seen several revisions over the years. The earliest recorded revision was in 2007, when the guideline value was Rs 1,300 per sq.ft. This value increased significantly to Rs 4,000 per sq.ft in 2012, marking a 208% increase. However, the value then dropped to Rs 2,680 per sq.ft in 2017, reflecting a decrease of 33%. The subsequent revision in 2023 saw a rise to Rs 4,000 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 238% in the guideline value for this street. The register does not contain 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, with a median value of Rs 4,400 per sq.ft. The guideline value of Jegannatha Nagar 22nd Street aligns with this median.

• Jegannatha Nagar 21st Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 23rd Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 20th Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 19th Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jegannatha Nagar 22nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to 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. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Jegannatha Nagar 22nd Street?

The Jegannatha Nagar 22nd Street falls under 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 more information.

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

The guideline value is a crucial factor during the registration of properties in Koyakbedu. It serves as a benchmark for determining the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property transaction occurs, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Jegannatha Nagar 22nd Street?

The current guideline value of Jegannatha Nagar 22nd 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, showing an overall increase of 238% across the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers this street?

The AnnaNagar Sub Registrar Office covers Jegannatha Nagar 22nd Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Jegannatha Nagar 22nd Street?

Jegannatha Nagar 22nd Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.