Guideline Value for Jegannatha Nagar 7th Street

Jegannatha Nagar 7th Street guideline value

The current guideline value of Jegannatha Nagar 7th 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 7th Street has changed

The guideline value for Jegannatha Nagar 7th Street has undergone 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 figure dropped to Rs 2,680 per sq.ft in the 2017 revision, marking a decrease of 33%. The guideline value then rose to Rs 4,000 per sq.ft in 2023, and the most recent revision in 2024 has established the current value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 238%.

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 matches the current value for Jegannatha Nagar 7th Street.

• Jegannatha Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Jegannatha Nagar Ist Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jegannatha Nagar 7th Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, 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, totaling Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Jegannatha Nagar 7th Street?

The Sub Registrar Office that covers Jegannatha Nagar 7th 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 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 process when buying or selling property in Koyakbedu. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a standard value recognized by the government.

When a property is sold, the buyer will need to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Jegannatha Nagar 7th Street?

The current guideline value of Jegannatha Nagar 7th 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%.

What are the stamp duty and registration fees for property in Jegannatha Nagar 7th Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,96,000, calculated based on the guideline value of Rs 44,00,000.

Which office handles the registration for Jegannatha Nagar 7th Street?

The AnnaNagar Sub Registrar Office handles the registration for Jegannatha Nagar 7th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Jegannatha Nagar 7th Street?

Jegannatha Nagar 7th Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.