Guideline Value for North Jaganatha Nagar 1 to 12 Street

North Jaganatha Nagar 1 to 12 Street guideline value

The current guideline value for North Jaganatha Nagar 1 to 12 Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Konnur village, under the Konnur SRO, and is classified as Residential Class I Type - I.

How the guideline value of North Jaganatha Nagar 1 to 12 Street has changed

The guideline value for North Jaganatha Nagar 1 to 12 Street has seen several revisions over the years. In 2002, the value was Rs 361 per sq.ft, which increased to Rs 392 per sq.ft in 2003. The following revisions showed significant changes, with the value rising to Rs 800 per sq.ft in 2007, and then a substantial jump to Rs 5,000 per sq.ft in 2012. However, it fell to Rs 3,350 per sq.ft in 2017 before increasing to Rs 5,000 per sq.ft in 2023, and finally reaching Rs 5,500 per sq.ft in 2024.

Between the revisions, there were notable percentage changes. From 2002 to 2024, the overall increase was +1424%. The jump from 2017 to 2023 was +49%, while the value decreased by -33% from 2012 to 2017. The most significant increase occurred from 2007 to 2012, with a rise of +525%. The change from 2023 to 2024 is +10%.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with guideline values for 2024 ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing North Jaganatha Nagar 1 to 12 Street above this median.

• North High Court Colony: Rs 3,800 per sq.ft (2024)
• North Jaganatha Nagar Annex: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar First Prathna Salai: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar I Cross Street: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar Second Cross Street: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar Second Prathna Salai: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in North Jaganatha Nagar 1 to 12 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total cost for these fees Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers North Jaganatha Nagar 1 to 12 Street?

The Sub Registrar Office that covers North Jaganatha Nagar 1 to 12 Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Konnur. It serves as a benchmark for determining the minimum value of a property, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs for completing the transaction. Buyers should be aware of these values to ensure they comply with the legal requirements during the registration process.

Frequently asked questions

What is the current guideline value for North Jaganatha Nagar 1 to 12 Street?

The current guideline value for North Jaganatha Nagar 1 to 12 Street is Rs 5,500 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 361 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +1424% over the years.

What is the land classification for this street?

North Jaganatha Nagar 1 to 12 Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property in this street?

For a 1,000 sq.ft plot, the total guideline value is Rs 55,00,000. The stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles the registration for properties in North Jaganatha Nagar 1 to 12 Street?

The Konnur Sub Registrar Office handles the registration for properties in North Jaganatha Nagar 1 to 12 Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.