Guideline Value for North Jaganatha Nagar Second Cross Street

North Jaganatha Nagar Second Cross Street guideline value

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

The guideline value for North Jaganatha Nagar Second Cross Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 360 per sq.ft. It increased to Rs 391 per sq.ft in 2003, marking a 9% rise. The value then jumped significantly to Rs 700 per sq.ft in 2007, reflecting a 79% increase. In 2012, the value was Rs 5,000 per sq.ft, which was a remarkable 614% increase from the previous revision. However, in 2017, the value decreased to Rs 3,350 per sq.ft, showing a decline of 33%. The 2023 revision set the value at Rs 5,000 per sq.ft, which was a 49% increase from 2017. The current value of Rs 5,500 per sq.ft from the 2024 revision is a 10% increase from the 2023 figure.

There are no figures available for the years not mentioned in the revisions for this street. 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 that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, placing North Jaganatha Nagar Second Cross Street above that median.

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

Stamp duty and registration fee for property in North Jaganatha Nagar Second 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 amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000. Together, the total cost would be 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers North Jaganatha Nagar Second Cross Street?

The Sub Registrar Office that covers North Jaganatha Nagar Second Cross 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 information.

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 stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that the guideline value may differ from the actual sale price.

When registering a property, the authorities will charge fees based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected.

Frequently asked questions

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

The current guideline value for North Jaganatha Nagar Second 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 from Rs 360 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1428% over the years.

What is the land classification for North Jaganatha Nagar Second Cross Street?

North Jaganatha Nagar Second Cross Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property 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.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office for North Jaganatha Nagar Second Cross Street is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.