Guideline Value for North Jaganatha Nagar I Cross Street

North Jaganatha Nagar I Cross Street guideline value

The current guideline value for North Jaganatha Nagar I Cross 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 I Cross Street has changed

The guideline value for North Jaganatha Nagar I Cross Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 800 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, representing a 525% rise. However, it dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, followed by the current value of Rs 5,500 per sq.ft in 2024, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 588%.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value is Rs 3,800 per sq.ft, placing North Jaganatha Nagar I Cross Street's 2024 figure above this median.

• North Jaganatha Nagar First Prathna Salai: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar Second Cross Street: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar Annex: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar Second Prathna Salai: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar 1 to 12 Street: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar Third Prathna Salai: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in North Jaganatha Nagar I Cross 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, 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 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 I Cross Street?

The Sub Registrar Office that covers North Jaganatha Nagar I Cross Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Konnur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair valuation, which helps in maintaining transparency in real estate dealings. It is essential for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for North Jaganatha Nagar I Cross Street?

The current guideline value for North Jaganatha Nagar I Cross 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 800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 588% over the years.

What are the stamp duty rates for property transactions in Konnur?

The stamp duty rate for property transactions in Konnur is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find more information about the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. More details can be found by following the link to find your SRO.

What is the median guideline value in Konnur?

The median guideline value in Konnur is Rs 3,800 per sq.ft, with North Jaganatha Nagar I Cross Street's value of Rs 5,500 per sq.ft being above this median.