Guideline Value for North Jaganatha Nagar First Prathna Salai

North Jaganatha Nagar First Prathna Salai guideline value

The current guideline value of North Jaganatha Nagar First Prathna Salai is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Konnur village and falls under the Konnur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of North Jaganatha Nagar First Prathna Salai has changed

The guideline value for North Jaganatha Nagar First Prathna Salai has seen several revisions over the years. The earliest recorded value was Rs 360 per sq.ft in 2002, which increased to Rs 391 per sq.ft in 2003. Following this, there was a significant rise to Rs 800 per sq.ft in 2007. The value then saw a dramatic increase to Rs 5,000 per sq.ft in 2012, followed by a decrease to Rs 3,350 per sq.ft in 2017. The value rose again to Rs 5,000 per sq.ft in 2023 before reaching the current figure of Rs 5,500 per sq.ft in 2024.

Between the revisions, notable changes include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 525% increase from 2007 to 2012, a 105% increase from 2003 to 2007, and a 9% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1428%.

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 guideline value in Konnur is Rs 3,800 per sq.ft, placing North Jaganatha Nagar First Prathna Salai above this median.

• North Jaganatha Nagar Annex: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar I Cross Street: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar 1 to 12 Street: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar Second Cross Street: Rs 5,500 per sq.ft (2024)
• North High Court Colony: Rs 3,800 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 First Prathna Salai

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, bringing the total fees together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers North Jaganatha Nagar First Prathna Salai?

The Sub Registrar Office that covers North Jaganatha Nagar First Prathna Salai 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 information.

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

The guideline value is crucial during property transactions in Konnur, as it determines the minimum value at which properties can be registered. Buyers and sellers must be aware of this value to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate stamp duty and registration fees. This ensures that the transaction is documented accurately and reflects the appropriate financial obligations based on the established guideline value.

Frequently asked questions

What is the current guideline value for North Jaganatha Nagar First Prathna Salai?

The current guideline value for North Jaganatha Nagar First Prathna Salai 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 360 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1428% over this period.

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

For a property valued at 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 registrations for North Jaganatha Nagar First Prathna Salai?

The Konnur Sub Registrar Office is responsible for registrations in North Jaganatha Nagar First Prathna Salai, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the median guideline value in Konnur village?

The median guideline value in Konnur village is Rs 3,800 per sq.ft, with North Jaganatha Nagar First Prathna Salai's value being above this median at Rs 5,500 per sq.ft.